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Indian Second-Hand Smartphone Market to Reach $4.6 Billion in 2025

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According to a joint analysis by the mobile devices industry group ICEA and research firm IDC, the country’s secondhand smartphone market get predicted to double in three years, to USD 4.6 billion by 2025.

According to the survey, consumers exchanged 25 million smartphones in the secondhand market, producing over USD 2.3 billion in income at an average price of USD 94 or Rs 6,900 per handset. 

By exploiting its labor cost differential, India should become the world center of re-manufacturing and re-commerce. The rapid expansion of e-commerce will successfully bridge the digital divide by allowing users to migrate from feature phones to smartphones.

During the introduction of the research, India Cellular and Electronics Association (ICEA) Chairman Pankaj Mohindroo remarked, The rise of this sector would also assure that there will be a considerable decline in e-waste as recycling will become the new standard.

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More than 95% of all second-hand cellphones in India are sold “as it is, with the remaining 5% undergoing some form of repair or refurbishing. Among consumer electronics products, smartphones are presently the leading volume driver (over 90%) in the second-hand market. These are accompanied by laptops, smartwatches, gaming consoles, and cameras catching up slowly, according to the survey.

In addition to this, 78% of consumers purchasing a used smartphone have a monthly income of less than Rs 30,000, while 18% have a monthly earning of Rs 30,000-Rs 50,000. As a result, the inexpensive price range is a driver of second-hand smartphone demand.

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