Refurbished smartphone market growth may decline to 10-15%

The growth rate of refurbished smartphone market is expected to fall to 10-15% in 2022, after growing nearly twice as fast last year when the Covid-19 lockdown-induced factors such as work and study from home led to an unusual spurt in demand.

However, refurbished smartphones have become a plank for consumers to upgrade to better devices without having to shell out much amid economic uncertainties, said market trackers and industry executives.