Malaysia Used Smartphone Market is poised to grow during the forecasted period due to various factors like growing smartphone and internet penetration, digital transformation brought on by the adoption of 5G network, a high percentage of low- to middle-income consumers, and rising prices of new smartphones. The government of Malaysia has taken steps to stimulate the economy by embracing digital technology in many facets of daily life. Used smartphones are becoming more popular, which has led to a gradual rise in smartphone costs.
The causes that are fueling this rise have been identified as affordable devices and packages, subsidies, fierce rivalry, and promotions among service providers. Smartphone-based applications are becoming increasingly popular and relied upon, which could also explain the rise. Yet, there was a decline in the use of feature phones. All age groups used smartphones to a greater extent than half of the time. It has been found that younger respondents are more likely than older respondents to use smartphones, and that older age groups are seeing a decline in this tendency. But older people are the ones that utilize feature phones the most.
People are beginning to purchase used smartphones since they are more inexpensive as the price of new smartphones has climbed. Future demand is anticipated to be strong, which will raise the average price of secondhand smartphones. Both consumers and organizations wishing to purchase smartphones on a budget can still find cost-effective choices by purchasing used devices. With aggressive trade-in offers in comparison to other channels, vendors like Apple, Samsung, and Xiaomi have developed their own schemes. The usage of recycled goods and the preservation of natural resources have become increasingly popular. Malaysians are also purchasing used smartphones as a further action. The industry for used smartphones will expand as a result, and there will be a decrease in the amount of electronic waste produced.
Smartphones have become an essential aspect of life as a result of increased digitalization, online learning, distant employment, and virtual sociability amid the COVID-19 pandemic. The need for 5G device compatibility in order to integrate technology and digital solutions became a key element in the increase in smartphone sales. Yet, because there are a lot of consumers with low to moderate incomes, they tend to choose used or refurbished cellphones over brand-new ones when shopping online. The demand for old smartphones in Malaysia has consequently increased.
Malaysia Used Smartphone Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Adpost, Adsglobe, Alibaba, Allo Allo, Amazon.com, Apple, APR Electronic Services Sdn. Bhd., Berry Nice Enterprise, Carousell, CompAsia, Facebook marketplaces, Factory Mobile Dataran Austin, APR Electronic Services Sdn. Bhd., Free Ads Time, Halomobile, Harvey Norman, Huawei, Kaskus, Lazada, Machines Suria KLCC Apple Premium Reseller Store, Mobile Wholesale City, OLX, Oneplus, Oppo, RealME, Sam Digital Enterprise, Samsung, SG World & Finance, Shopee, Vivo.
Malaysia Used Smartphone Market Segmentation:
By Distribution Channel: Based on the Distribution Channel, Malaysia Used Smartphone Market is segmented as; Organized, Unorganized.
By Type of Marketing Channel: Based on the Type of Marketing Channel, Malaysia Used Smartphone Market is segmented as; Classified, Offline Dealers, Online Marketplace.
By Source of Lead Generation: Based on the Source of Lead Generation, Malaysia Used Smartphone Market is segmented as; Dealership Walk-Ins, Online.
By Sourcing Medium: Based on the Sourcing Medium, Malaysia Used Smartphone Market is segmented as; Businesses, OEM’s, Retail Customers, Telephone Operators.
By Type of Sales: Based on the Type of Sales, Malaysia Used Smartphone Market is segmented as; B2C, C2C.
By Brand: Based on the Brand, Malaysia Used Smartphone Market is segmented as; Apple, Samsung, Xiaomi, Others.
By Age: Based on the Age, Malaysia Used Smartphone Market is segmented as; 0 – 12 months, 12 – 24 months, 24 – 36 months, 36 – 48 months, >48 months.
By Price: Based on the Price, Malaysia Used Smartphone Market is segmented as; Lower end phone, Mid-range phone, Premium phone, Upper end phone.
By Region: This report also provides the data for key regional segments of Kuala Lampur, Petaling Jaya, Seberang Perai.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.