India’s second-hand smartphone market is dominated by Xiaomi and Apple, according to the ‘User Sentiment Survey’ conducted early this month,by Cashify, best known as a marketplace for refurbished phones. Apple’s dominance is surprising since the tech giant has a very low market share in India as compared to other brands. “While Apple has only 2% market share in the new phone segment, it is number two in the second-hand segment every year. It has a strong brand pull,” said Nakul Kumar, co-founder and chief marketing officer at Cashify India.
He pointed out that the social status attached to the iPhone brand makes a big difference. Cashify still sells the iPhone 7, which was launched in 2016, at over Rs 10,000, and that’s something no other brand can achieve. “The phone serves as a social symbol for today’s generation.
Also read: Asus launches six new laptops for content creators, price starts at Rs 67,990
I think that’s the reason Apple remains on top,” he explained. Another reason Apple dominates the second-hand smartphone market is that many people can afford to buy its products only years after the launch when the prices come down.
According to the survey, while customers from metros such as Delhi, Mumbai and Bengaluru top the list of those selling their older phones, cities such as Ghaziabad, Ahmedabad and Lucknow are up-and-coming in the segment. The data also shows that OnePlus has become a popular choice for customers looking to get a premium device at a budget price; realme is also growing fast in the segment.
On Xiaomi’s high market share, Kumar said this was due to the volumes the brand sells. “Xiaomi tends to be in the Rs 8,000
Rs 15,000 bracket, and the number of devices in that segment is pretty high. People tend to switch these phones in under a year, and then they are available for the second-hand market to consume. Samsung occupies the third position, which also reflects their market leadership in the new phone market,” Kumar added.
Also read: Apple confirms iPadOS 16 is delayed; know reason why
Some popular models sold back to Cashify include the Apple iPhone 7, Redmi Note 5 Pro, Redmi Note 4, Apple iPhone 6, and Apple iPhone X. Cashify’s survey also showed that 78% of people who bought a second-hand or pre-owned smartphone had an income of less than Rs 30,000. It estimated that 90 mn second-hand smartphones were added to the Indian market in 2021 alone.
