Worldwide shipments of used smartphones, inclusive of both officially refurbished and used smartphones, to reach a total of 206.7 million units in 2019, which represents an increase of 17.6 percent over the 175.8 million units shipped in 2018, according to International Data Corporation (IDC).
The new IDC forecast projects used smartphone shipments will reach 332.9 million units in 2023 with a compound annual growth rate of 13.6 percent from 2018 to 2023.
Although the global new smartphone market remains in decline, used smartphone shipments are witnessing a rapid growth, as well as a considerable market prospect.
"In contrast to the recent drop in the new smartphone market, as well as the forecast for minimal growth in new shipments over the next few years, the used market for smartphones shows no signs of slowing down across all parts of the globe," said Anthony Scarsella, research manager with IDC's Worldwide Quarterly Mobile Phone Tracker.