Increasing smartphone penetration as well as a high proportion of low to mid-income consumers are driving the Malaysia Used Smartphone Market: Ken Research

Malaysia Used Smartphone Market
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.

Key Market Findings:
• 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.

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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.

For More Information On The Research Report, Refer To Below Link: -
https://www.kenresearch.com/consumer-products-and-retail/consumer-electronics/malaysia-used-smartphone-market-outlook-to-2026/596249-95.html

Key Segments Covered: -
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
• B2C
• C2C

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
• 2G
• 3G
• 4G
• 5G

By Battery Capacity
• 5000 mAh

By Operating System
• Android
• iOS
• Others

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By Screen Size
• 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

Related Reports by Ken Research: -
https://www.kenresearch.com/consumer-products-and-retail/consumer-electronics/indonesia-used-smartphone-market-outlook/550569-95.html

Ken Research Pvt. Ltd.

Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.