📱The secondhand phone market is valued at $64.5 billion, driven by trade-ins and refurbished devices.
💼Cellular carriers and phone makers benefit from trade-ins, as customers purchase new devices.
🔄Used phones are sold to wholesalers or refurbished to be marketed to individual buyers.
🔋Refurbished phones are rigorously tested and cleaned before being graded and priced for resale.
💰Refurbished phones are typically priced 20-30% below their retail value, providing consumers with discounts.
How big is the secondhand phone market?
—The secondhand phone market is valued at $64.5 billion.
Who benefits from phone trade-ins?
—Cellular carriers and phone makers profit from trade-ins as customers purchase new devices.
Where do used phones go?
—Used phones are either sold to wholesalers or refurbished and sold to individual buyers.
How are refurbished phones prepared for resale?
—Refurbished phones undergo rigorous testing, cleaning, grading, and pricing processes before being sold.
What are the prices of refurbished phones?
—Refurbished phones are typically priced 20-30% below their retail value, providing consumers with discounts.
00:00The secondhand phone market is valued at $64.5 billion.
03:49Refurbished phones undergo rigorous testing and cleaning.
04:45Refurbished phones are priced 20-30% below their retail value.
04:51Cellular carriers and phone makers profit from trade-ins.
05:13Used phones are sold to wholesalers or refurbished for individual buyers.
