VARINDIA IT MAGAZINE

The market for used and refurbished mobile phones has skyrocketed in the last couple of years with technology becoming a necessity with each passing day as the population as well as the penetration of phones is extensively high. The expansion of e-commerce and retail chains has made the availability of used and refurbished mobile phones easy and the easy accessibility has triggered strong growth in India too. Experts and analysts expect the market for refurbished phones to rise by a compounded 27% over 2019 and 2020 as new players join existing online marketplaces Amazon, Cashify, Shopclues and Togofogo. In India, millions of mobile phone users still purchase second-hand phones as they prefer buying refurbished or used phones with the features they need in less price than settling for a new phone at a comparatively higher price with lower specifications. Refurbished mobile phones category is growing at 400% year-on-year and its contribution in overall mobile phone sales has a...

In 2016, the renewed smartphone market was a $17 Billion market with customers selling 120M used smartphones at an average value of $140 per device. It is estimated that it represents a 7% of total smartphone sales.at the same time refurbished market is booming in India . Flipkart is also looking to organise the "unorganised" refurbished market of India, and build it too. The selling of refurbished smartphones to start from Diwali and will be sold on the online marketplace and offline retail stores, for which discussions have been held with distributors. Flipkart will use its logistics arm Ekart for deliveries.... Read More