The global market for refurbished smartphones slowed to one per cent year-over-year (YoY) growth in 2018, reaching close to 140 million units, Counterpoint Research said on Thursday.
According to Counterpoint’s “Refurbished Smartphone Tracker”, the secondary industry slowed due to the 11 per cent drop in new smartphone sales in key supply countries like China and the US. The drop in new device sales led to a decline in devices flowing into the secondary market.
Samsung and Apple continued to dominate the refurbished market with 70 per cent share while Huawei is growing in popularity, especially in South East Asia.
“The US and China markets saw lower upgrade cycles in 2018, which affected the flow of devices into the secondary market. In addition, China and US trade tensions held up devices in customs much longer than normal. This was especially true during the first half of the year,” Tom Kang, Research Director at Counterpoint Research, said in a statement.
Eighty nine per cent buyers consider the camera as the top specification while buying a smartphone, followed by battery life (87 per cent), RAM (79 per cent) and internal memory (72 per cent), a new report by CyberMedia Research (CMR) said on Monday.
Buyers prefer experimentation over “brand pull” when its comes to smartphones as they become increasingly brand-agnostic, said CMR’s Mobile Industry Consumer Insight (MICI) survey.
The survey said their preferences are being driven by factors such as overall product quality (92 per cent), product performance (90 per cent), product aesthetics (82 per cent) and reliable after-sales service, with fast turnaround time (76 per cent).
“In a hyper-competitive market, marked by the smartphone sea of sameness, brands that invest in ensuring product quality and other softer aspects, win big.
“Indian consumers, especially post-millennials and Gen-Z are very demanding. For them, product design, quality, and overall value for money are of critical importance,” said Narinder Kumar, Lead Analyst-IIG, CMR, in a statement.
The survey was conducted across the top eight Indian cities in February 2019 and covered teens and youth between the age group of 15 to 30 from various backgrounds and income levels.
“The CMR MICI survey results affirm the importance and passion that consumers invest in and associate with their smartphones. While bigger smartphone brands continue to hold onto their pockets of strength, it is interesting to see Realme outperform the competition,” said Satya Mohanty, Head-User Research Practice, CMR. (IANS)