Reformed The smartphone market 2021 was a strong one because its sales increased by 15 percent compared to 2020. Whereas, in 2021 the sales of new phones increased by only 4.5 percent. According to a Counterpoint report, the growing demand for 5G phones among consumers has helped push sales of the reformed model last year. Many customers wanted to upgrade to a 5G phone and had to use a trade-in agreement to make such a transaction financially feasible. Companies, however, have increased inventory of their phones that can be recycled as recyclable, as more such deals are being accepted.
What is a renewed smartphone?
A refurbished smartphone is a used smartphone that has been returned to the manufacturer. The manufacturer then tests these devices to measure the condition of the phone internally and externally. These smartphones are repaired to look, feel and perform like new devices. Samsung Added three new phones to the Re-Nude line found in its online store a few days ago. These new smartphones include – Samsung Galaxy S21 5G, Galaxy S21 + 5G and Galaxy S21 Ultra 5G.
According to reports, Apples The reformed was the most popular smartphone brand in the market, after Samsung. These smartphone makers are gathering more trade-ins to work as both brands are aiming to increase their revenue for their flagship models. The report further states that the secondary market for reformed handsets allows users to access prices of some popular models that are up to 60% lower than their original price.
The report suggests that some global retailers known for selling new devices are increasingly offering reformed phones as there is a shortage of chips and other components worldwide. The report shows that Latin America saw its biggest year of reformed sales growth by 29 percent in 2021. Then India, the second largest smartphone market, 25 percent. With 15% growth, the U.S. had the third-largest annual growth rate, and most recently, China (the largest market for reformed phones) grew 10 percent.