Global refurbished smartphone market declined 9% on-year in 2020: Counterpoint

NEW DELHI: The global refurbished smartphone market fell by 9% on-year in 2021, led by Latin America, Europe, and South-East Asia on account of COVID-19 lockdowns and related economic deterrents, according to the latest Counterpoint Refurbished Smartphone Market Update.

Latin America (LATAM) witnessed a de-growth of -19%, followed by Europe (-14%), and South-East Asia (-10%) on-year. While in India, the refurbished smartphone market declined by a marginal -3% on-year.

The pandemic caused a significant number of smartphone owners to avoid or delay new purchases.