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The growth of the refurbished smartphone market is slowing to 1 per cent in 2018: Counterpoint

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The growth of the refurbished smartphone market is slowing to 1 per cent in 2018: Counterpoint

The growth of the refurbished smartphone market is slowing to 1 per cent in 2018: Counterpoint

The global market for refurbished smartphones slowed to an annual growth of 1 percent in 2018, reaching nearly 140 million units, Counterpoint Research said on Thursday.

According to Counterpoint's Smartphone Tracker, the secondary industry slowed down because smartphone sales fell by 11 percent in major supply countries such as China and the United States. 

The decline in sales of new devices led to a decline in the flow of appliances to the secondary market.

Samsung and Apple continued to dominate the 70 percent market, while Huawei is gaining popularity, especially in Southeast Asia.

"US and Chinese markets experienced a drop in upgrade cycles in 2018. 

This has affected the flow of hardware to the secondary market, and trade tensions between China and the United States have led to customs suspension in customs for much longer than usual. 

During the first half of this year, Tom Kang, director of research at Counterpoint Research, said in a statement.

A higher percentage of refurbished devices were sold with warranty.

The market research firm said this helped to a large extent overcome consumer reluctance to buy refurbished equipment.

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