While the who’s who of the mobile phone industry are gathering in Barcelona these days to showcase extremely expensive new luxury smartphones at the Mobile World Congress, European customers are increasingly losing interest in the new devices. Refurbished appliances are on the rise, especially in Europe. Krone+ explains the economic and ecological background – and shows what you should pay attention to when buying.
While Apple customers are still swallowing the annually rising prices with sales of 234.6 million devices in 2023 (2022: 226.3 million), the other manufacturers now seem to have reached a ceiling. Samsung mobile phone sales fell by more than 13 percent (226.6 million in 2023 compared to 262.2 million in 2022), and sales figures fell even for Chinese brands Xiaomi and Oppo, which are already established in the West. The marketing strategists are taking countermeasures and have barely increased prices in 2024, unlike in recent years. But it could be too late for the sector: in Europe it is becoming increasingly common not to buy new smartphones at all.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
