India in the last few years has shown a boost in tech adaptability like never before. Thus, showing an increase in the upgrading of smartphones by 19% in the first year and 44% in the 1-2 years.
Cashify through its intense research with the help of International Data Corporation, Counterpoint Research brought many facts to show how the recommerce market has grown. Cashify runs a platform for users to choose and compare smartphones for consumers. It also provides a platform for selling and exchange of pre-owned smartphones.
In the last year, the second-hand smartphone industry rose to a new level. Newer launches, brand options, attractive price points, and the desire for an upgrade are some of the major factors.
With more consumers opening up about selling and buying used handsets, the recommerce industry has seen a definite surge in 2019. Counterpoint declared India as the fastest-growing market for refurbished mobile phones.
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Leaders in the Market
Many brands have made a place in the market share as the top choice by consumers. Among them are the top three: Xiaomi, Apple, and Samsung.
Xiaomi is called the money of the second-hand smartphone industry due to its quicker updates, innovation, offbeat marketing, and most importantly, it’s super-competitive pricing.
The majority of the credit goes to the Redmi Note 7 Pro, Redmi Note 7A, and Redmi Note 7S. They collectively contributed about 50 percent to the brands’ overall shipments. Redmi K20 Series added nearly 13 percent to total shipments.
IDC reports that Xiaomi clocked up a market share of 27.1 percent in Q3 2019.
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After Xiaomi as the top-selling second-hand sales by users comes Samsung and Apple with a share of 16% both.
Apple had a comeback this year with their launch of iPhone XR in the market last year. 16.49% of total used devices sold by smartphone users in 2019 were iPhones, making it the second most resold brand of the year.
iPhone 6 was sold the most by its users, contributing about 28 percent of the total iPhones sold in the pre-owned market.
As for Samsung, 16.44 percent of pre-owned smartphones sold by people in 2019 compared to 20.3% in 2018. 27% of the Samsung Galaxy J2 was sold by most users selling a Samsung smartphone, followed by Galaxy J7 with nearly 19 percent share.
Samsung provides diverse offerings ranging from feature phones to mid-tier and premium segments. Moreover, Galaxy M and A series acted as saving grace for Samsung.
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Other Brands in the Competition
OnePlus, Vivo, Oppo, and Realme are the competitors in the market for second-hand smartphones. Here are some numbered facts of these brands:
- 4.23 % of users sold their old OnePlus smartphones in 2019.
- Oppo brought its resale market share to 4.2 % in 2019.
- Realme sold by 1.05 % of users in 2019.
- Vivo smartphone users sold about 5 % of users in 2019.
Additionally, major reasons for an upgrade for most smartphone users have been connectivity (3G to 4G), gaming capacity, updates in mobile photography, and so on.
From 14 million shipments in 2018-19, refurbished handsets are expected to grow by 20-25 percent by 2020.
In the context of this topic, the truth index of the users who report their smartphones with true conditions are lower than not mentioning it clearly. It happens in almost all cities like New Delhi, Gurugram, Kolkata, Chennai, and Bengaluru.
According to the surveys conducted, Android and iOS-based pre-owned smartphones sold at 80% and 20% Pan India.
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Sushmita Choubey
Marketer to the core, a writer from the soul. Engineer and an MBA turned budding tech writer - dabbling her hands in all genres of writing from tech to fiction. If not writing, you will always find me reading anything and everything. Otherwise, you will find me learning new languages.