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The 2nd hand mobile or used phone market is worth billions of pounds globally. Both consumers and suppliers are increasingly embracing the practice of selling or acquiring second hand smartphones. These older phones are competition for new budget brands.
The Second Hand Market And Phone Repair Shops
The market for pre-used handsets is growing really quickly, consumers are making a shift to buying used handsets as there is a rise in these shops appearing on the high street. The market for acquiring second or third or fourth hand technology devices is set to become steadily more organised. Used, refurbished premium smartphones and older tablets may be more appealing than new unbranded devices. You can make a saving when considering your next digital technology. Start your search at West Africa Phones for a second hand center above.
It is said that the trade-in values of old tech after one, two or more years of ownership, will be similar to the equivalent service provided by the used automobile industry, as there is a market for old band model value or expected resale value. The average price of a used handset has increased year on year. This will only increase as the pace of innovation continues.
The future second hand market will mean carriers and network operators develop new business models either specific to their networks markets locked in or unlocked states.
Before you trade in, wipe the data stored on your devices. Erased all your customer information on them before selling on. Professional buyers of phones delete data as part of the service. But do not hand the device over before you do it yourself.
Insurance Companies And Second Hand Phones
Two billion mobile phones are manufactured every year which is a benefit to the insurance companies which sells the consumers the protection against dropping or losing a device. What about insuring a second hand phone? Well the insurance bought and the level of cover will be determined by the quality control program in place by the re seller. The four quality levels are:-
- Pristine
- Very Good
- Good
- Grade C
These products are highly tradable and of relative high value. Product grading and quality is essential for trust. Stolen goods and selling goods of questionable quality are threats to this market.
Better For The Environment
What really happens to the millions of phones and tablets that get thrown out? Environmental sustainability of electronics is a growing issue. The smartphone funeral normally involves them ending up in landfills, leaching toxic chemicals* into the soil. There are many dumps in West Africa full of old tech. Recycling phones will reduce demand for coltan**. Buying a second hand phone is the eco-friendly thing to do. The handsets supplied are considerably more affordable than a brand new device, which is why customers find this a far more cost-effective option when looking to replace a broken phone or simply upgrade to the latest technology.
Second Hand Phones In Africa An Opportunity
Africa’s second hand market is virtually untapped. All emerging markets are viable for refurbished electronics and used smartphones. Your old phone could find a new owner in Russia, Asia, Africa, or Latin America. South Africa, Nigeria, Egypt and Kenya have had rapidly expanding smartphone markets. Cross-border transaction need regulation and measures to ensure quality as above and to prevent AML (Anti-Money-Laundering). So look for opportunities to do business there after consideration of price which will dominate purchasing in all markets by the African masses.