Smartphone prices have steadily increased, with flagship models from Apple and Samsung now exceeding $1,000. Many consumers, especially in emerging markets, have turned to pre-owned and refurbished devices as a cost-effective alternative. According to Counterpoint Research, the global refurbished smartphone market grew by 5% in 2023, with Apple leading the sector at 49% market share.
This demand shift has fueled a thriving market for pre-owned devices, creating massive resale opportunities for wholesalers and retailers alike.
The last decade has also seen a greater emphasis on sustainability. As consumers become more environmentally conscious, many are opting for refurbished and pre-owned smartphones to reduce electronic waste. Groups like the Right to Repair movement have pushed for policies that make device repairs and reselling more accessible.
Companies that prioritize sustainable practices are positioned to thrive in this evolving landscape. Offering wholesale pre-owned phones not only meets consumer demand but also aligns with global sustainability initiatives.
The COVID-19 pandemic was one of the biggest disruptors in the global smartphone industry. With supply chain delays and chip shortages affecting new device production, the demand for pre-owned and refurbished phones skyrocketed. IDC reported that the refurbished smartphone market saw a double-digit growth rate in 2021, as consumers and businesses sought more affordable alternatives amid economic uncertainty.
During this period, many businesses that diversified into pre-owned phones saw increased profitability, making it clear that investing in wholesale refurbished devices can be a recession-proof strategy.
Over the past decade, trade-in programs have become a major driver of the pre-owned phone industry. Carriers and retailers now offer generous trade-in deals, creating a steady supply of used smartphones that flow into the wholesale market.
Apple’s iPhone Trade-In Program, for example, has contributed significantly to the resale market, as customers upgrade to newer models more frequently. This consistent turnover means that businesses in the pre-owned phone industry always have access to high-quality inventory.
The rollout of 5G networks has also contributed to the growth of the pre-owned market. As consumers upgrade to 5G-capable smartphones, older 4G and LTE models enter the resale market in large quantities. This shift has allowed wholesalers to acquire substantial stock at competitive prices while providing budget-conscious buyers with reliable and affordable alternatives.
With the pre-owned smartphone market expected to grow at a compound annual growth rate (CAGR) of 10.23% through 2027, now is the perfect time for business owners to invest in wholesale phones. At RecirQ, we provide high-quality pre-owned iPhones, Samsung and other Android devices, tablets, and smartwatches to retailers, helping them meet the ever-growing consumer demand.
The best way to start working with us is to register your business on our marketplace.
As a leading supplier in the pre-owned smartphone industry, RecirQ provides certified, high-quality used phones, tablets, and smartwatches at competitive wholesale prices. Whether you’re looking to expand your inventory or enter the growing refurbished phone market, we’re here to help you succeed.
Contact us today to learn how you can start sourcing top-tier pre-owned devices for your business.