Global shipments of second-hand smartphones, including refurbished and used phones, reached 206.7 million units in 2019, an increase of 17.6% over the previous year's 175.8 million units, according to a new report from market research firm IDC.
IDC expects that the deployment of 5G phones will affect the second-hand market, and users who replace 5G devices will sell their 4G smartphones.
IDC forecasts that by 2023, second-hand smartphone shipments will increase to 332.9 million units, with a market size of 67 billion U.S. dollars, and a compound annual growth rate of 13.6% from 2018 to 2023.
