The high prices of mobile phones in Turkey due to factors such as import taxes, the low exchange rate of the Turkish lira compared to the dollar or the euro, and inflation, have led to a surge in demand for second-hand mobile phones, especially among younger consumers. “Consumers are looking for alternatives to the high cost of phones. They are turning to second-hand or refurbished phones,” said Faruk Kocabaş, CEO of Mediamarkt Türkiye.
Kocabaş explained that refurbished products such as mobile phones are particularly popular among young people; a refurbished phone is purchased by a retailer, checked, repaired, and sold at a lower price than a new smartphone, with a one-year warranty.
Every year 11 million new mobile phones are sold in Turkey, and this year 300,000 to 500,000 refurbished mobile phones are expected to be sold, so this market will continue to growing; by 2030 it is expected to reach 12.5 million new mobile phones sold per year, and in that year 2.5 million refurbished phones and 3.75 million second-hand phones will be sold. The average price of a new smartphone in Turkey is currently around 17,000 liras (just under €600): 45% more than the 11,000 liras it cost just a year ago.
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Pablo Gómez is a specialist in Turkey and has been editor-in-chief of Hispanatolia since 2011. He has been analysing current affairs and geopolitics in Turkey and the surrounding region since 2006.
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