Global shipments of used smartphones-- including both officially refurbished and used handsets-- total 206.7 million units in 2019, IDC reports, a 17.6% increase over the 175.8m units shipped in 2018.
In addition, the analyst projects used smartphone shipments will reach 332.9m units in 2023 with CAGR of 13.6% for the 2018-2023 forecast period. Such growth is the result of the "considerable" savings brought about by used smartphones in comparison with new models. In addition, OEMs still struggle to produce new models striking a balance between desirable features and a price deemed reasonable. Further into the future, the deployment of 5G networks and smartphones will impact the market as smartphone owners will start trading in 4G handsets for a 5G update.
As the analyst puts it, customers prefer to purchase next generation devices over dispensable low-tech mobile viewers, giving content creators the opportunity to showcase more immersive experiences and the potential of the VR medium. As such, one can safely describe mobile as the weakest link in the market chain, with shipments falling by -11% to below 11 million units in 2019.
"Originally, our retail stores gave people a way to experience, test, and talk to us about multi-component, CD and DVD-based home entertainment systems," a statement from the company continues. "At the time, it was a radical idea, but we focused on what our customers needed, and where they needed it-- and we're doing the same thing now."
