Refurbished smartphones find many takers in India now

It is no secret that the smartphone market has stalled in recent times, with even Chinese handset sales declining 14 per cent last year. But, there is one market that is going against the trend: the refurbished smartphones market.

In a country that boasts its own word for innovation utilising the least amount of resources — or ‘jugaad’ — it is not surprising that there would be a burgeoning market for used, second-hand or refurbished smartphones in India. More and more cost-conscious Indians have begun to take it to heart that one man’s trash is another man’s treasure, so much so that IDC estimates the refurbished smartphones market, which was worth roughly $19 billion by the end of 2017, would continue to grow at a year-on-year rate of 10 per cent through 2022.