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Mobile phones have become so ubiquitous that it feels like pretty much everyone we know has one. And today there are different levels of phones on the market – from prepaid phones that cost less than $100 to the latest OLED, bezel-free phones that run well over $1,000. And for the most part, we’ve grown accustomed to the year-over-year explosive growth of new mobile devices. But now, a lack of mobile sales has resulted in a plateaued market and consumers are starting to turn towards the second-hand market.
Persistence Marketing Research (PMR) forecasts the second-hand market is going to reach approximately 39 billion dollars in 2025 in global revenue, up from almost 20 billion in 2017. PMR’s recent report estimates the global refurbished and used mobile phone market will expand 8.9 percent CAGR from 2017 to 2025.