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India’s second-hand smartphone market to hit $4.6 billion by 2025: report

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India’s second-hand smartphone market to hit $4.6 billion by 2025: report

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The country’s second-hand smartphone market is expected to double in three years to $4.6 billion by 2025, according to a joint report by mobile device industry body ICEA and research firm IDC. Consumers traded 25 million smartphones on the second-hand market, generating revenue of over $2.3 billion, at an average price of $94 or Rs 6,900 per device, according to the report.

“India is expected to be the global hub for remanufacturing and re-commerce by leveraging its labor cost delta. Strong growth in re-commerce will effectively bridge the digital divide by enabling migration from feature phones to smartphones. The growth of this market will ensure that there is a significant drop in e-waste as recycling will become the new norm,” said Pankaj Mohindroo, President of the India Cellular and Electronics Association ( ICEA), when the report was launched.

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Over 95% of all used smartphones are sold “as is” and the remaining 5% undergo some kind of repair or refurbishment in India. “Among consumer electronics devices, smartphones are currently the largest volume driver (over 90%) in the second-hand market, and others such as laptops, smartwatches, game consoles and the cameras are gradually resuming,” the report said.

The report estimates that 78% of users who buy a second-hand smartphone have a monthly income of less than Rs 30,000 and 18% have a monthly income of Rs 30,000 to Rs 50,000. This makes the affordable price range a factor. key to driving demand for used smartphones.

India’s second-hand smartphone market to hit $4.6 billion by 2025: report

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