Despite a decline in the overall market, there were several growth markets like India, Latin America and Africa
Current Affairs : The worldwide market for revamped cell phones declined 1 percent (year-on-year) in 2019, arriving at a little more than 137 million units, as per another report. A similar market in India, notwithstanding, grew a solid 9 percent a year ago.
The worldwide market developed fairly in the final quarter as Apple redesigns stayed solid however a 1 percent expansion during the second 50% of the year couldn’t counterbalance the decrease in the main half, said most recent examination from Counterpoint’s ‘Renovated Smartphone Tracker’.
“This is the first run through over the most recent four years that the renovated showcase has declined for the entire year. The pattern is for the most part connected with the downturn in new cell phone deals in key areas like the US, China and Europe,” said Jeff Fieldhack, Research Director at Counterpoint Research.
In spite of a decrease in the general market, there were a few development markets like India, Latin America and Africa.
Varun Mishra, Research Analyst at Counterpoint Research said that the refurb environment in these economies is still at an incipient stage.
“As far as cell phones, these business sectors remain underpenetrated. Numerous clients are searching for moderate gadgets to come on the web. The progress from include telephones to cell phones and the desire of premium gadgets at a moderate value direct proceed toward fuel development in these business sectors,” Mishra said in an announcement.
There is additionally the progressing change of the refurb fragment from the chaotic area to sorted out in nations like India which is opening chances.
Apple and Samsung kept on overwhelming the auxiliary market in 2019.
“Apple keeps on encouraging its exchange and protection programs. This likewise bodes well for Apple as it has been concentrating on its administration portion. The experience of these administrations is more improved with the more current equipment, and a solid exchange program can enable clients to redesign,” the discoveries appeared.
Aditi Mehta 