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Why The Refurbished Market Has Become the Fastest Growing Smartphone Segment in 2018

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Even if you buy the most high-tech smartphone that’s easily available in the today’s market, there is another product in the market that may be introduced the next month. Since the grass always remains green on the unachievable side, our want for the new hottest smartphone always remains ravenous.

If your love for the mobile phones is higher than that the love for new clothes or diamonds, then you surely requires a cost-effective solution for the hi-tech philandering. Since you can or cannot move to the cheap counterparts for your clothes, you can switch towards refurbished smartphones to quench your thirst for the latest technology. This is the favored option for all the high-end tech geeks.

Why Are Refurbished Phones Trending Now?

The customers have shifted towards buying refurbished phones more than ever because of the peripheral changes in design and slowing innovation in the new models. So, why buy a new flagship product when a cheaper option with good functionality is available.

The range for the refurbished is very high with rapidly changing technology and devices becoming outdated very soon in contrast to the usual. This gives a chance to the refurb phone market to flourish.

As per the stats, the refurbished market segment grew up by 13% in 2017. With this growth, the refurb market is close to the 10% of the complete global smartphone market.

The Reasons for the Refurbished Smartphone Market Growth

Refurbished Phones Function Identical to the New Ones

Each customer knows that the mobile phone in which he or she is making an investment, whether refurbished or new will give him or her value for the money. Well, the smartphone you buy works as a new; you take into account the dealer or manufacturer doing the refurbishment and understand what happens during the process.

The refurbished smartphones are returned to the manufacturer as they may have the minor or major defaults. The retailer works on it and hence, makes it fully functional as a new product. Though the functionality level varies depending on the several factors as who refurbished the phone, how well they do it and why the device passes through the refurbishment process.

For the best results, the refurbished phones are handled by the expert technicians by the manufacturers. They replace the faulty parts with the new ones and test for the functionality in order to assure that such devices are in accurate working state.

Quality Assurance

The refurbished phones work properly because it undergoes through the refurbishment process. The certified dealers and manufacturers as completely aware of its credibility, they don’t sell the damaged or the faulty phones.

Several tests have been done to assure that the product perfectly works. The sellers and manufacturers are completely aware of their reputation and they don’t sell malfunctioning products. By getting such a product, customers are assured that they are getting a fully functional product.

Price

Price is of the great concern why people move towards buying a refurbished product. This saves you a lot of money as these are available at discounted prices. Buying a refurbished model is much cheaper than purchasing a new model. With such a deal, you don’t only remain in touch with class but get a budget-friendly product.

Eco-Friendly

Today, the smartphones which are introduced in the market mining and metals that leaves a large environmental footprint. At the time of manufacturing, the phones utilize toxic chemicals, and hence, a great deal of energy is spent during the production process. This gives the rise to e-waste that can pollute the air and groundwater, leading to many health concerns for you.

With the advent of the refurbished phones, e-waste has been reduced to a significant extent. By purchasing a refurbished phone means that you are contributing a lot in promoting the environment.

Many Options to Select From

At the time of selection, you have many choices when labeling for the latest product in the market. In this manner, you can search for a smartphone that fulfills all your needs actually than setting for something wealthy that you don’t even want to use.

The refurbished phones are excellent quality phones which provide you with a high-tech product at pleasing prices.

No Long-Term Contracts

When you purchase a refurbished smartphone, you can significantly minimize your phone service provider bill. As you will not have to cover up the cost of an expensive phone, you can lower down the complete cost of phone monthly bill.

With regards to a short-term contract, you can freely move from a provider to the other, reliant upon the company that has the mobile rates for you.

Final Words

It isn’t surprising that the refurbished market segment is booming in the mobile phone industry. Such advancements have helped the industry to dive into the revenue streams.

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