NEW DELHI: Refurbished smartphones are finding more buyers in India. Rising prices of new devices are pushing consumers towards cheaper alternatives, including older iPhones, helping the secondary market grow even as new handset sales face a slowdown. ControlZ (refurbished electronics retailer) reported 100% growth this festive season, led by the iPhone 13, 14 and 15 series, founder and CEO Yug Bhatia, said. He identified the Rs 30,000-50,000 band as its strongest segment.“When an entry-level Android phone costs about the same as a like-new iPhone, most buyers prefer the iPhone,” Bhatia said.He estimated India’s pre-owned smartphone market at about 5 crore units, with iPhones accounting for 15-20%. Supply was sufficient, he said, but the largely unorganised market needed to be organised to bring renewed devices to more buyers in smaller towns.Cashify, another refurbished electronics retailer, said sales of refurbished smartphones priced above Rs 50,000 more than doubled, while trade-ins in that segment more than quadrupled. Overall, exchange volumes rose 25%, with the average trade-in value reaching Rs 15,105. The company also reported stronger growth in smaller cities. Trade-ins in Tier 3 and beyond grew 49%, compared with 39% across the six metros. Motorola and Google recorded the fastest growth in upgrade and trade-in activity, at 79% and 74%, respectively, while Samsung led in overall volumes.The shift is also visible in the models consumers are exchanging. Cashify said trade-in activity was increasingly moving towards newer devices, including the iPhone 15, 16 and 17 series, indicating that consumers were upgrading more frequently and looking to recover greater value from their existing smartphones. The trend comes as India’s new smartphone market faces pressure from rising handset prices, making refurbished devices an increasingly attractive alternative for buyers looking for premium features at lower prices.
