India Premium Phone Trade-Ins Quadruple as Refurbished Sales Above ₹50,000 Double
Updated
Updated · The New Indian Express · Oct 29
India Premium Phone Trade-Ins Quadruple as Refurbished Sales Above ₹50,000 Double
3 articles · Updated · The New Indian Express · Oct 29
Summary
Trade-ins of smartphones priced above ₹50,000 have more than quadrupled in India, while refurbished sales in that premium band have more than doubled, showing buyers still want flagship devices but at lower entry costs.
Cashify said rising handset prices are driving the shift: refurbished phones sell at 26% to 36% discounts, with refurbished iPhones about 25% cheaper than new models and Android devices roughly 31% cheaper.
The move comes as new-phone demand weakens. India smartphone shipments fell 26% year on year in July-September, and Counterpoint expects festive-season volumes to decline 12%.
Festive upgrades accelerated the trend, with Cashify reporting a 25% rise in exchange volumes and a 40% increase in traded-in value; the average trade-in reached ₹15,105.
Demand is also moving upmarket and outward geographically: newer iPhones are gaining share in trade-ins and refurbished sales, while tier-3 and smaller cities posted 49% festive-season growth versus 39% in the six metros.