A recent GSMA report reveals a significant shift in consumer preferences towards refurbished smartphones, with the circular market for these devices projected to exceed USD 150 billion by 2027. The survey, which included responses from over 10,000 mobile users across 26 countries, indicated that more than 70% of consumers are willing to pay a premium for environmentally friendly options.

The study also highlighted that 90% of mobile operators worldwide are implementing at least one circular business model, with refurbishment and electronic waste management being the most prevalent. Companies are recognising the potential for additional revenue through leasing and upgrade options, which not only foster customer loyalty but also contribute to sustainability efforts.

Furthermore, the report notes that consumers are keeping their devices longer than before, with 85% prioritizing sustainability in their purchasing decisions. This focus on eco-friendliness surpasses other factors such as design and advanced features. According to UN statistics, e-waste incurs annual external costs of USD 78 billion, while refurbishing mobile devices can reduce carbon emissions by 80-90% compared to producing new ones, underscoring the environmental benefits of this growing trend.