Refurbished tech is becoming an increasingly popular choice amongst consumers
UK consumers could save an average of £204 by opting for a refurbished phone, reveals research by giffgaff.
The data also shows that if every adult in the country due to buy a new phone this year chose a refurbished one instead, users could save £4.5 billion.
Of those surveyed, 66 per cent reported phone costs as a concern and 33 per cent said price rises were causing them stress.
Meanwhile, 45 per cent of respondents said they were more likely to use refurbished tech than they were a few years ago, with 35 per cent having purchased one in the past few years.
However, there are still misconceptions about refurbished devices, with 55 per cent perceiving refurbished phones as older models and 37 per cent thinking they have poor battery life and no warranty.
“At a time when people are feeling the rising cost of living, refurbished devices can be a great option,” said giffgaff CEO Ash Schofield.
“Our research shows that whilst a number of people see refurb tech as a viable option, quite a few are missing out on the savings because of outdated misconceptions.
“We want to bust these myths about battery life, outdated models and lower quality devices, and help the nation manage their finances to get more of what they want and need.”