Playing smart in smartphones

Sales of pre-owned and refurbished handsets see sharp rise

Published: Oct 9, 2018

g_109829_pre-owned_handsets_280x210.jpgImage: Shutterstock

In September, when online classifieds portal OLX said that sales of pre-owned smartphones in India are pegged to reach 46 million units in 2020, it came as a surprise for industry observers. But to consumers like Saurabh Gupta, who recently bought a pre-owned Samsung Galaxy S8+, which cost him 35 percent less than the market price of ₹53,000, it was no news. “I sold my old iPhone, which was my fourth in one-and-a-half years,” grins Gupta, a BPO executive in Okhla, Delhi.

OLX recorded 14 million mobile phones and accessories listings in the financial year ended March 2018. “Listings jumped from 2.5 million units in April-June last year to 3.5 million in the same period this year,” OLX said in a media release.

Analysts attribute the boom to millennials and users in tier 2 and 3 towns. For OLX, three out of four pre-owned phone buyers, and half of the sellers, are millennials who have a higher appetite for phones listed above ₹20,000. Amazon Renewed, which offers certified refurbished products, has been growing at 300 percent year-on-year. “Over 70 percent of orders come from tier 2 and 3 cities, like Kanchipuram and Secunderabad,” says an Amazon spokesperson.

(This story appears in the 26 October, 2018 issue of Forbes India. You can buy our tablet version from Magzter.com. To visit our Archives, click here.)

Show More
Post Your Comment
Required
Required, will not be published
All comments are moderated
Does eating together improve negotiations?
Big purchases: Buyers' market