India’s Refurbished Smartphone Market Grows 13% As Rising New Phone Prices Drive Demand For Affordable Premium Devices

New Delhi: India's refurbished smartphone market experienced growth of 13 percent year-on-year during the first half of the year, despite a decline of 11 percent in new smartphone volumes, according to a report by Counterpoint Research. The report attributes this growth to the increasing prices of new smartphones, particularly in the entry and mid-range segments, where consumers are more price-sensitive.

Samsung leads the refurbished smartphone market in India, with a 30 percent share, followed by Apple with a 23 percent share. The iPhone 13 is particularly popular among refurbished models, offering a premium experience at an affordable price. Analyst Prachir Singh attributes this trend to the rising cost of memory in new smartphones, making refurbished devices an attractive alternative.

The lower upfront cost, coupled with the availability of easy EMI and financing options, is making premium refurbished smartphones more accessible to a wider consumer base. Trade-in and exchange programs are also becoming significant growth drivers for the refurbished market. The industry is expected to grow further at a rate of 16 percent in 2026, driven by the rising prices of new devices, premiumization, and increasing acceptance of pre-owned smartphones.