India’s refurbished smartphone witnesses increased growth, outpaces new sales in 2024: All the details

Refurbished

India's refurbished smartphone market has grown tremendously, as the unorganized sector contributes 77% of the total sales. According to a new report by Counterpoint Research, the used smartphone market has expanded faster than the new smartphone market, thanks to smaller retailers and distributors offering a variety of services such as cash on delivery (COD), credit facilities, and warranty options to meet rising consumer demand.

These facilities have effectively formalized the refurbished or used smartphone market, enhancing consumer trust and driving further growth. Other factors behind this surge in demand for used smartphones have been driven by economic considerations, increased awareness, and a focus on sustainability.

Refurbished smartphone market sees unprecedented growth: Top reasons

Increased confidence: According to the report by Counterpoint Research, the entry of organized refurbished brands that provide guarantees and quality checks on used smartphones has significantly boosted consumer confidence. These services provide more assurances to consumers, which the unorganized players lack to provide.

Moreover, e-commerce platforms are also specializing in providing refurbished smartphones as consumers seek the convenience of online shopping backed by credible service commitments.

Affordability: As refurbished smartphones offer consumers higher-end hardware at lower cost, more consumers look for these smartphones. Additionally, refurbished devices provide an avenue to access new technological advancements without the high cost associated with new purchases.

Environmental impact: The environmental benefits of using refurbished products have also been seen by most smartphone consumers nowadays as used smartphones reduce electronic waste and the demand for new manufacturing, which is resource-intensive and invokes higher costs.