Adequate demand, adequate supply
India’s second-hand smartphone market has a lot going for it. Smartphone penetration is increasing and product life cycles and refurbishment times are decreasing. For cost conscious Indians, a secondhand phone with a lot more features might be worth buying over a brand new phone with less specifications. As a result, more expensive smartphones like Apple’s iPhones and Samsung’s Galaxy series, which would normally be out of a mid-market customer’s reach, can find a second or third life after being refurbished and sold at a significant discount to their MRP. From a supply perspective, people are always looking to trade up their smartphones. In light of the rapid pace of development and the consistent churning out of new smartphone models, people are comfortable selling their old phones at a low price before upgrading.