The survey received responses from close to 4,000 people. As per the survey, a majority of Indians preferred buying smartphones over laptops, 84% of them upgraded their smartphone within 14-18 months of purchase.
Xiaomi retains its leadership position in the second-hand smartphone market with a 26% market share followed by Apple, which has a 20% share. As per insights shared by Cashify, a used-smartphone marketplace, in 2020 due to Covid-19 induced lockdowns which led people to work from home and students attending classes through online mode, demand for smartphones increased.
One of the most important reasons for upgrading has been the need to have a smartphone with high-speed network connectivity (3G to 4G) and supporting apps for online classes and work from home. “And those who couldn’t afford a new smartphone were seen opting for refurbished devices with Mi being the most popular among this segment,” a Cashify survey said.
The survey received responses from close to 4,000 people. As per the survey, a majority of Indians preferred buying smartphones over laptops, 84% of them upgraded their smartphone within 14-18 months of purchase. No-cost EMI option and replacement warranty were the top criteria for purchase.
In terms of the market share of second-hand smartphones, Xiaomi tops the chart with 26% share followed by Apple with 20% share, Samsung at 16% share and Vivo and Motorola at 6% each. The survey listed Delhi (23%), Mumbai (13%), Bangalore (11%), and Hyderabad (7%) as the top 4 for sales of pre-owned smartphones. Satellite towns such as Ghaziabad, Faridabad, Ahmedabad and Lucknow have also shown robust growth and secured top spots in the upcoming city category.
As per insights from the survey, people sold their second-hand phones at the average price of Rs 4,217 in 2020. Smartphones around the age of 3 years got sold the most by users and nearly 62% of smartphone issues are screen-related, battery issues come next with about 21%. As per the survey, 80% of the men sold their smartphones while only 20% of women sold their smartphones in 2020.