Smartphones sold in the market by refining or gushmeye shining compared to the new smartphone. A research conducted by market research firm Counterpoint Research found that 13 percent of the refurbished smartphones sold worldwide in 2017.
Counterpoint revealed the research data on Wednesday. According to their data, last year, there were 14 million Referred Phone in the market. In comparison, last year the sales of new smartphones increased only 3 percent.
According to the counterpoint, 25 percent of the old smartphones coming back to the market are returned. Some of these smartphones are refurbished. Apple and Samsung are at the forefront of the refurbished phone market. These two smart phone makers jointly acquired 75 percent of the refurbished market. Besides, 80 percent of the market's total income goes to Samsung's pocket.
Regarding the new section, research director Tom Kang said, "Consuming the 13 percent growth of the old phone, approximately 10 percent of the smartphone market is refurbished phone. That's why new smartphone market growth is less. Two years ago, with the medium-sized smartphones, the innovative differences in new smartphone designs and features were less. Also, refurbished high end smartphones are grabbing the low-priced new smartphone market. In this case, there are more demand for the iPhone and Samsung's Galaxy smartphones.
Research director Peter Richardson said many people would be surprised that in the country like India, the old refurbished phone market is fast growing rather than the new smartphone. In 2013, new phones sales will fall further.
