People Are More Interested In Buying Used Phone Than Before, Why?

The global smartphone shipment is expected to reach 225.4 million devices for 2020, according to IDC’s forecast revealed on Thursday. If this turns out true, it will be a 9.2% increase from 2019, the market research firm says. In addition, IDC projects that the shipment of used phones will reach 351.6 million units in 2024.

These numbers have taken both used smartphones and refurbished smartphones into account. IDC says that a large part of the expected rise is attributed to the growing trade-ins used to persuade customers to upgrade their handsets and to reduce the cost of premium models.

The shipment for 2020 turned out lower than expected, but the market for used phones did well in comparison with the new phone one, which experienced a decrease of 6.4 percent. It’s projected by the market researcher that in late February 2020, the COVID-19 pandemic would cause a negative influence on the global smartphone market for the entire year. Anthony Scarsella, research manager at IDC, said:

“In contrast to the recent declines in the new smartphone market, as well as the forecast for minimal growth in new shipments over the next few years, the used market for smartphones shows no signs of slowing down across all parts of the globe. Refurbished and used devices continue to provide cost-effective alternatives to both consumers and businesses that are looking to save money when purchasing a smartphone.”

While the coronavirus slowed down the global smartphone market, it had already slumped before that due to lower demand in upgrading smartphones of consumers. As a result, in 2020, many phone makers, even Apple, aimed at lower segments by releasing more affordable smartphones and focused on mid-range users.

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