Not so long ago, the market for used phones was a rounding error. Consumers observed the annual improvements in smartphones, and most wanted to buy only new devices.
Then something changed. Actually, lots of things. Those annual improvements slowed down. Top end phones hit $1,000. The subsidy model in many markets was replaced by the trade-in.
These factors combined to make consumers think again about preowned devices. Demand exploded. Consumers bought 225.5 million used phones in 2020.
Clearly, the market for used phones is now huge. In fact, it’s on target to be worth $65 billion by 2024.
This white paper dives deeper into the dynamics of the secondary smartphone market and explores the benefits that B-Stock brings to the B2B auction model.
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