India leads global refurbished smartphone market

“India leads the global refurbished smartphone market with a 19% year-on-year growth reported in 2022,” says Ashutosh Singh Chandel, Senior Director & Business Head, Recommerce at Flipkart.

He also points to the growing trend among consumers towards sustainability and a circular economy, which is driving the demand for refurbished products globally. This trend is picking up momentum in India, with expectations of 2x growth by 2025.

IDC agrees. “As the quality of smartphone hardware improves, increasing device prices keep the new smartphone models out of reach of the mass segment. The aspiration to own a good device without paying much is making used smartphones a desirable choice for consumers wanting to upgrade or even with first- time smartphone users.”

CT Bureau