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Indian Second-Hand Smartphone Market to Attain $4.6 Billion in 2025: ICEA-IDC Report

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The second-hand smartphone market within the nation is predicted to double in three years to $4.6 billion (roughly Rs. 34,500 crores) by 2025, in response to a joint report by cell units business physique ICEA and analysis agency IDC.

Shoppers traded 25 million smartphones within the second-hand market producing a income of over $2.3 billion (roughly Rs. 17,250 crores), at a mean worth of $94 (roughly Rs. 7,050) or Rs. 6,900 per gadget, in response to the report.

“India ought to be the worldwide hub of re-manufacturing and re-commerce by leveraging its delta of labour value. Re-commerce’s profound progress will successfully scale back the digital divide by enabling migration from function telephones to smartphones.”

“The expansion of this market may even be certain that there might be a big drop in e-waste as recycling will develop into the brand new norm,” India Mobile and Electronics Affiliation (ICEA) Chairman Pankaj Mohindroo stated throughout the launch of the report.

Greater than 95 % of all second-hand smartphones are bought “as it’s” and the remaining 5 % undergo some sort of restore or refurbishment in India.

“Among the many shopper electronics units, smartphones are the most important quantity driver (over 90 %) within the second-hand market at present, and others similar to laptops, smartwatches, gaming consoles, and cameras are choosing up steadily,” the report stated.

The report estimates that 78 % of the customers shopping for a second-hand smartphone have a month-to-month earnings of lower than Rs. 30,000 and 18 % have a month-to-month earnings of Rs. 30,000-Rs 50,000. It makes the inexpensive worth vary a key consider driving the demand for second-hand smartphones.


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