Apple continues to dominate India’s thriving refurbished smartphone market, capturing 62.9 per cent of sales in the first half of 2025, according to Cashify’s latest whitepaper, The Great Indian Upgrade 2025. The study highlights a growing trend among Indian consumers to sell, trade in, and buy pre-owned devices, signalling a major shift towards a more circular tech economy.
Why refurbished phones are popular
The report, based on insights from over 10,000 survey respondents and Cashify’s proprietary marketplace data, reveals that while trade-in programmes have gained traction, a significant “Drawer Economy” persists. Around 70 per cent of Indian smartphone users admit to hoarding two to three unused devices at home, representing billions of rupees in untapped resale potential. Meanwhile, one-third of consumers sell old devices to fund new purchases, and 40 per cent are motivated by competitive buyback offers.
Apple leads in refurbished phone market
The surge in demand for refurbished phones is closely tied to premiumisation. Three in five refurbished buyers in the first half of 2025 opted for iPhones, particularly models like the iPhone 14 Pro, 13 Pro Max, and 12 Pro. This has driven growth in the ₹60,000-plus segment by 33 per cent year-on-year, while mid-range refurbished devices priced between ₹15,000–30,000 are also seeing strong uptake.
Other brands are also competing in the second-hand market, albeit at smaller scales. OnePlus accounted for 10.2 per cent of refurbished sales, followed by Xiaomi at 9.7 per cent, Samsung at 6.1 per cent, and Vivo, which posted the fastest growth, rising from 2.1 per cent in 2024 to 3.2 per cent in the first half of 2025. Tier-1 cities like Delhi, Mumbai, and Bangalore lead trade-ins, but tier-2 and tier-3 cities are catching up rapidly.
Consumer confidence in refurbished devices is on the rise. Seventy-six per cent of surveyed users could correctly define refurbished as “like new – tested and repaired by experts,” while 52.5 per cent consider a 12-month warranty an important factor. Buyers are increasingly willing to pay a premium, with 32.4 per cent spending between ₹21,000–35,000 and 17.1 per cent paying over ₹50,000 for refurbished models.
