Second-hand smartphones and the associated circular economy are one of the hottest topic areas in the mobile phone industry, with total revenue estimated to excess $13 billion in 2021. CCS Insight forecasts revenue to rise at a compound annual growth rate of 22% by between 2022 and 2026 as larger companies enter the market and ramp up trade-in and refurbishing programmes.
The environmental impact of mobile phones is now being widely recognised. CCS Insight estimates that a staggering 1.4 billion smartphones reached the end of their first life in 2021. Up to half of them were discarded or sent to landfill.
However, the growing circular economy opportunity is apparent from the 309 million used mobile phones that were traded in some way; more than 100 million ended up in the organised secondary market, comprised of retail chains and other large-scale companies processing high volumes of second-hand smartphones.
CCS Insight’s new report, Spotlight: Second-Hand Smartphones, Worldwide, presents findings and analysis from a comprehensive survey of the topic. It reveals the biggest markets for used smartphones, the most popular models, average selling prices, forecasts and much more.