Deloitte sees India’s used smartphone market touching $4 billion by 2020

At a time when users are benefitting from price war among smartphone brands, Indian user base is all set to touch a new high with two out of every three consumers seeking to switch to a new phone in every 10-12 months. This would make India among the fastest growing smartphone market in the world, valued at about $442.5 million by 2022. Pre-owned smartphone market is also on the rise in the wake of frequent launches of the new models of handsets and their upgrades. India’s used smartphone market is expected to reach $4 billion by 2020, according to a Delloitte India report.

While e-commerce sale trends and high discounts on smartphones act as a motivation for consumers to upgrade to new smartphones, brands like Xiaomi and Huawei are giving a tough competition to premium range smartphones, offering almost similar specs in mid-budget price segment. The re-commerce trend is breaking all barriers of selling smartphones and influencing pre-owned smartphone users to sell their smartphones without taking hassles of negotiations and prices. The online marketplaces like OLX and Quikr have become a counterpart of offline selling, which is largely unorganised. In its place re-commerce platforms like InstaCash, Cashify, Buldi, Togofogo and others are offering to sell phones on the doorstep, the Delloitte study says.