The digital landscape has transformed in India over the last couple of years. Where people used to use a smartphone for about 3 years, now a user wants to upgrade to a new smartphone within one or two years. Attributable to many factors like more frequent launches by OEMs, innovation in the world of mobile phones, affordable data and more, this shortening life span of mobile phones has brought about a major change in our economy as well.
India, as we know it, is touted as one of the fastest growing smartphone markets. People from every generation and every walk of life possessing a smartphone isn’t something alien to us any more. These smartphones that are gaining such a popularity aren’t always brand new phones that one buys from a glassy showroom. Refurbished or second-hand smartphones enjoy an immense popularity due to their lower prices all over our country.
Did you know that over 14 lakh pre-owned smartphones were sold in India in the year 2019? The shortening life span of mobile phones is also giving an option to sellers where they can refurbish a phone when it’s still performing well. This enables them to make these phones capable of performing better tasks and hence the popularity.
Mandeep Manocha, CEO & Co-founder, Cashify, has expressed his opinion about the thriving market of refurbished mobiles in India. You can read his full opinion piece on News 18.
