Used Smartphones Worth $17bn

According to accountants there is now a vast market for used smartphones.

Professional services firm Deloitte said consumers will sell or trade-in 120 million used smartphones around the world in 2016 creating a market worth more than $17bn.

The firm's technology, media and telecoms practice said the average value of a used smartphone was about $140 (£96) per unit globally, and $165 (£114) in the UK.

According to Deloitte telecommunications leader, Ed Marsden, smartphones should be increasingly important to the industry.

Marsden said: "There is an innate consumer desire to upgrade in order to have the most personal and useful devices.

"Savvy teenagers may urge their parents to upgrade their handset in the hope that they will, in turn, benefit from an upgraded hand-me-down.

"The growth of the second-hand smartphone market presents huge opportunities for the sector."

Deloitte believes the second-hand smartphone market is just one of a number of trends that will affect the telecoms and broadband sectors going forward.

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