Increasing smartphone penetration as well as a high proportion of low to mid-income consumers are driving the Malaysia Used Smartphone Market and is expected to exceed USD 800 Mn by 2026F: Ken Research

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Feb 07, 2023, 06:03 ET

GURUGRAM, India, Feb. 7, 2023 /PRNewswire/ -- Malaysia Used Smartphone Market is in the growing stage. It is a fragmented market which is being driven by increasing smartphone penetration, rising awareness to reduce electronic wastes, high proportion of low to mid-income consumers, increasing prices of new smartphones and adoption of 5G network.

iPhone is the most sold used smartphone in Malaysia. iOS dominates the market in Malaysia.
A government subsidy program along with relatively smoother logistics facilities drove Malaysia's market in 2021.
Majority of the people who buy used smartphones prefer to buy a second-hand phone that is only 1-year-old. Buying a smartphone at an early life enables the subsequent user to get the maximum benefits from it.

Growing Demand for Used Smartphones in Malaysia: The growing digitization, virtual classes, remote working, virtual socialization during Covid-19 pandemic led to smartphones being an indispensable part of life. Integration of technology and digital solutions required compatibility of devices with 5G technology, and it became a driving factor for the rise in sales in the smartphone market. However, as the proportion of low- to mid-income consumers is quite high, they prefer to go on online platforms offering refurbished and second-hand smartphones with discounts instead on new smartphones. This in turn has led to the increase in demand of used smartphones in Malaysia.

Rising Average Price of Used Smartphones: As the price of new smartphones have increased, people have started to buy used smartphones as they are affordable. Average price of used smartphones is expected to increase due to a robust demand in the future. Used devices continue to provide cost-effective alternatives to both consumers and businesses that are looking to save money when purchasing a smartphone. Vendors such as Apple, Samsung, and Xiaomi have implemented their own programs with aggressive trade-in offers compared with other channels.

Rising environmental awareness: People around the world have started taking steps to preserve natural resources and use recycled products. Only about 20.0% of mobile phones are recycled each year in Malaysia. Another step being taken by people in Malaysia is buying used smartphones. This will lead to the reduction in electronic wastes as well as the growth of the Used Smartphone Industry in Malaysia.

Analysts at Ken Research in their latest publication "Malaysia Used Smartphone Market Outlook to 2026F- Driven by increasing prices of new smartphones, greater environmental awareness and Government initiatives like adoption of 5g network" by Ken Research observed that Malaysia Used Smartphone Market is in the growing phase. Increasing smartphone penetration, rising awareness to reduce electronic wastes, high proportion of low to mid-income consumers, increasing prices of new smartphones and adoption of 5G network are some of the factors that will contribute to the growth of the Malaysia Used Smartphone Market over the period of 2022F-2026F. It is expected that Malaysia Used Smartphone Industry will grow at a CAGR of 14.9% for the above forecasted period.

Key Segments Covered in the report:-

Malaysia Used Smartphone Market

By Distribution Channel

Unorganized
Organized

By Marketing Channel

Offline Dealers
Classified
Online Marketplace

By Source of Lead Generation

Dealership Walk-ins
Online

By Sourcing Medium

Retail Customers
Businesses
Telephone Operators
OEM's

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By Type of Sales

By Brand of Smartphones

Apple
Samsung
Xiaomi
Others

By Age of Smartphones

0-12 months
12-24 months
24-36 months
36-48 months
>48 months

By Price of Used Smartphones

Lower end phone
Mid-range phone
Upper end phone
Premium phone

By Purchase Across Major Cities

Kuala Lampur
Seberang Perai
Petaling Jaya
Others

By Type of Network

By Battery Capacity

<3000 mAh
3000-5000 mAh
>5000 mAh

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By Operating System

Android
iOS
Others

By Screen Size

<4.5 inch
4.5-5.5 inch
>5.5 inch

Key Target Audience

Smartphones companies
Network Providers
Government Bodies and Regulatory Authority
Fintech Companies
Investors and Financiers
Smartphones Service Providers
Cell Phones Industries
Venture Capitalist
Smartphones Manufacturers
Existing Cell Phone Companies
New Market Entrants

Time Period Captured in the Report:-

Historical Period: 2016-2021
Base Year: 2021
Forecast Period: 2022F– 2026F

Companies Covered:-

Online Marketplaces

Lazada
Shopee
CompAsia
PG Mall
Mudah.my
Amazon.com
Facebook marketplaces
Halomobile
Takumiko
Alibaba
Harvey Norman
Allo Allo

Offline Players

Factory Mobile Dataran Austin
SG World & Finance
Mobile Wholesale City
Berry Nice Enterprise
SS Solution
Sam Digital Enterprise
Machines Suria KLCC Apple Premium Reseller Store
nextfone
APR Electronic Services Sdn. Bhd.

Classified Platforms

Kaskus
Carousell
OLX
Adpost
Adsglobe
Free Ads Time

Omnichannel Players

Apple
Xiomi
Huawei
Samsung
Oppo
Oneplus
Vivo
RealMe

Key Topics Covered in the Report:-

Malaysia's Smartphone User Landscape
Malaysia Used Smartphone Market Analysis
Ecosystem of Malaysia Used Smartphone Market
Malaysia Used Smartphone Industry Market Size
Malaysia Used Smartphone Industry Market Segmentation
Value Chain Analysis of Malaysia Used Smartphone Market
Business Cycle and Genesis of Online Players in Malaysia Used Smartphone Market
Competition Scenario of Malaysia Used Smartphone Market
Malaysia Used Smartphones Market Size Future Outlook and Projections
Issues and Challenges in the Malaysia Used Smartphone Market
End User Analysis of Malaysia Used Smartphone Market
Industry Analysis of Malaysia Used Smartphone Market
Trends and Developments in Malaysia Used Smartphone Market
SWOT Analysis on Used Smartphones market in Malaysia
Growth Drivers of Malaysia Used Smartphone Market
Government Rules and Regulations in Malaysia Used Smartphone Market
Impact of Covid-19 on Malaysia Used Smartphone Market

For more insights on the market intelligence, refer to below link:-

Malaysia Used Smartphone Market

Related Reports By Ken Research:-

Indonesia Used Smartphone Market Outlook to 2026: Driven by increasing smartphone prices and changing consumer buying behavior.

The market size is expected to grow at a five-year CAGR of ~9% by 2026. Post COVID, an increase in the number of transactions through online platforms have been witnessed. The ease of convenience of getting a used smartphone at the doorstep from a certified seller and trusted marketplace, has resulted an increase in the share of online platforms in the market size of used smartphones industry in Indonesia.

Thailand Used Smartphone Market Outlook to 2027F- Driven by increasing smartphone penetration, reduction in electronic waste and adoption of 5G network

According to Ken Research estimates, Thailand Used Smartphone Market– which grew at a CAGR of 11.6% in the period of 2017-2022P – is expected to grow at a CAGR of 13.9% in the forecasted period of 2022P-2027F, owing to adoption of 5G network and a high proportion of low- to mid-income consumers. Growing popularity of online marketplaces for the sale of used smartphone has substantially increased in Thailand. The market is highly dependent upon offline and unorganized players. Offline players compete with each other on the basis of products offered, its geographical presence, product quality, after sale services, value added services etc.

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Contact Us:-
Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
[email protected]
+91-9015378249

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SOURCE Ken Research