India Refurbished Mobile Phone Market Overview, 2029

India Refurbished Mobile Phone Market Overview, 2029

The Indian refurbished smartphone market serves a wide range of users, offering anything from low-cost models to high-end flagships. Consumer preferences have recently shifted, indicating an increasing desire for 5G-enabled reconditioned phones, driven mostly by budget considerations. The considerable price difference between used phones and new smartphones, which may equate to savings of up to 50%, is a major selling point. Price sensitivity is a common tendency in the Indian market, with a large section of the populace emphasising value for money when making purchases. Furthermore, rising environmental consciousness among consumers is leading to a growing respect for reconditioned phones as a sustainable option. This view is bolstered by the increasing availability of internet connectivity and the development of online marketplaces, both of which are fueling the growth of the refurbished smartphone market. While affordability, environmental concerns, and increased internet penetration are the principal drivers of market expansion, some hurdles remain. Among these problems is a lack of brand trust associated with used phones, which is exacerbated by concerns about product quality and inconsistency in warranty offerings. From a legislative aspect, the refurbished smartphone market functions within the larger context of e-waste management rules, with no special regulations that control its operations. However, the government's initiatives, such as the 'Digital India' campaign, indirectly help to market development by encouraging digital usage and connection throughout the country.

According to the research report “India Refurbished Mobile Phone Market Overview, 2029,"" published by Bonafide Research, the India Refurbished Mobile Phone market is expected to grow at more than 8% from 2024 to 2029. Notably, online sales of reconditioned phones have increased significantly, showing that consumer tastes are changing to online platforms. Major industry competitors have also increased their emphasis on quality control and warranty services in an effort to improve customer satisfaction and retention. Furthermore, the increased demand for reconditioned 5G smartphones reflects the changing technical landscape and consumer desires for more modern gadgets. Pricing and segmentation in the reconditioned phone industry are important elements that influence purchasing decisions. Prices vary greatly depending on brand, model, condition, and the length of warranty coverage. The market is divided into three major categories: the budget segment, which is dominated by refurbished feature phones serving a specific niche; the mid-range segment, which is priced between $150 and $300 and is experiencing strong growth due to previous generation flagships; and the premium segment, which caters to users seeking high-end models at discounted rates and is typically priced above $300.

Refurbished phones represent a leading and growing segment in the mobile phone market. These devices, which are pre-owned but restored to their original condition, are offered at prices lower than their brand new counterparts. They appeal to consumers seeking affordable alternatives without compromising on quality. In contrast, used phones are sold as seen, straight from the previous owner, with any existing marks, damage, or performance glitches included. This segment caters to consumers looking for budget-friendly options, although they may come with varying levels of wear and tear. In terms of pricing range, the market is segmented into low-priced, mid-priced, and premium refurbished and used mobile phones. Distribution channels also play a crucial role in the market landscape. Offline channels, such as brick-and-mortar stores and authorised resellers, remain leading distribution channels due to their established presence and accessibility. However, online channels are experiencing significant growth, fueled by the convenience of e-commerce platforms and increasing digitalization. Consumers are increasingly turning to online platforms to purchase refurbished and used mobile phones, reflecting a shift towards digital retailing trends.

India's refurbished market outperforms that of its Southeast Asian competitors, owing to its large population. With over a billion people, India has a huge market for refurbished gadgets. This demographic advantage leads to increased demand, creating a robust market for refurbished equipment. On the other hand, China has a more developed reconditioned market with tougher rules. These restrictions provide higher quality standards and consumer protection, which boosts buyer confidence. As a result, the Chinese reconditioned market has established a reputation for dependability and quality assurance. The availability of raw materials has a considerable impact on the reconditioned electronics market. Refurbishers in India and other nations rely heavily on readily available used phones obtained through trade-in schemes and buybacks. This regular influx of old devices drives market growth, maintaining a consistent supply of products for consumers. Furthermore, the developing e-waste treatment infrastructure in many locations serves as an additional supply of raw materials. Recycling and repurposing electronic waste not only benefits the environment, but also provides refurbishers with valuable components and resources. This sustainable raw material procurement strategy contributes to the expansion of the refurbished industry. The Covid-19 epidemic initially disrupted a variety of industries, including the electronics market, due to lockdowns and supply chain issues. However, this difficulty eventually contributed to an increase in demand for low-cost electronics, particularly in emerging areas such as India and Southeast Asia. As consumers faced economic uncertainty, they resorted to reconditioned electronics as a more cost-effective option to new ones.

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Refurbished Mobile Phone market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Type
• Refurbished Phones
• Used Phones

By Pricing Range
• Low-priced Refurbished and Used Mobile Phones (Less than $200)
• Mid-Priced Refurbished and Used Mobile Phones ($200-$350)
• Premium Refurbished and Used Mobile Phones (More than $350)

By Distribution Channel
• Offline
• Online

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Refurbished Mobile Phone industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.