Every time the newest Apple or Samsung phone is out, consumers become less willing to spend £1,000. According to Jess Morris, chief European marketplace manager at B-Stock, 22 million phone users (almost 35% of them) would choose to purchase a refurbished phone over a new one.
Used mobiles are a more cost-effective solution to stay up with the annual debut of new mobile devices. According to the IDC, used smartphone sales will drive the market’s overall value from $25 billion in 2019 to $65 billion in 2024. Why is it important for mobile network operators (MNOs) that users are accepting of the idea of used technology? fewer funds still on the table! Longer upgrade cycles, which result in less frequent upgrades from users (every three years as opposed to every two years), open up a market for carriers to explore.
Used mobiles are a more cost-effective solution to stay up with the annual debut of new mobile devices. According to the IDC, used smartphone sales will drive the market’s overall value from $25 billion in 2019 to $65 billion in 2024. Why is it important for mobile network operators (MNOs) that users are accepting of the idea of used technology? fewer funds still on the table! Longer upgrade cycles, which result in less frequent upgrades from users (every three years as opposed to every two years), open up a market for carriers to explore.
It is possible to take advantage of this additional revenue stream by using secondary market resellers. Leading US carriers are already using B2B online auctions to get overstock or trade-in products into the hands of eligible business purchasers, who can subsequently sell to consumers directly or negotiate wholesale prices.
Carriers and mobile phone makers can aid in the fight against e-waste by keeping more phones on the secondary market and out of landfills. Mobile phones can now live a second, third, or even more lives thanks to reselling.
The economic advantages of second-hand mobile phones are well-known, but so are their environmental effects. Electronics that are improperly recycled or dumped endanger the environment.
More consumers are conscious of the importance of recycling. In order to facilitate client product repair, legislators are also introducing rules. Further research and development are necessary, though. 5.3 billion mobile phones will be abandoned this year, according to the WEEE Forum, an international organization.
The availability of used phones is increased by trade-in phone programs. Consumers can trade in recent model trades for hundreds of pounds. MNOs and other retailers must maintain a steady stock turnover due to trade-ins and returns. Fortunately, merchants are almost assured to move goods using an auction setup, regardless of volume, season, or product type. They make it just as simple to accept offers from a large number of purchasers as from a select few. And move at a speed that is comfortable for the seller.
Another source of income for MNOs is the sale of warranty and insurance phones. Another reason for returns and replacements is when defective or broken mobile phones are received. For mobile buyers wishing to harvest parts, sell inventory to repair facilities, or refurbish and resell themselves, damaged phones are less expensive. As a result, there is still a need for replacement phones under warranty and insurance on online auction sites.