Apple beats OnePlus, Xiaomi with 62.9% share in Indian refurbished mobile market

Apple has firmly established its leadership in India's burgeoning refurbished smartphone sector, securing an impressive 62.9% of sales during the first half of 2025, as highlighted in Cashify's recent report, 'The Great Indian Upgrade 2025.' This study underscores a significant trend among Indian consumers, who are increasingly engaging in the sale, trade-in, and purchase of pre-owned devices, symbolizing a shift towards a more sustainable tech ecosystem. The report, which draws insights from over 10,000 survey participants alongside Cashify's marketplace data, reveals that while trade-in programs are gaining popularity, a notable 'Drawer Economy' remains prevalent. Approximately 70% of Indian smartphone users acknowledge that they have two to three unused devices stored away, representing a significant amount of potential revenue that remains untapped. Furthermore, about a third of consumers opt to sell their old devices to finance new acquisitions, with 40% motivated by attractive buyback deals. The increasing demand for refurbished smartphones is closely linked to the trend of premiumization. In fact, three out of five buyers of refurbished devices in early 2025 chose iPhones, with models like the iPhone 14 Pro, 13 Pro Max, and 12 Pro being particularly popular. This trend has led to a remarkable 33% year-on-year growth in the segment of refurbished phones priced above ₹60,000, while mid-range devices in the ₹15,000–30,000 range are also witnessing substantial demand. Other brands are vying for a share of the second-hand market, though on a smaller scale. OnePlus accounts for 10.2% of refurbished sales, with Xiaomi following closely at 9.7%. Samsung holds 6.1%, and Vivo has shown the most rapid growth, increasing from 2.1% in 2024 to 3.2% in the first half of 2025. Tier-1 cities like Delhi, Mumbai, and Bangalore are leading the way in trade-ins, but tier-2 and tier-3 cities are quickly catching up. Consumer confidence in refurbished devices is on the rise; 76% of respondents accurately describe refurbished products as 'like new – tested and repaired by experts.' Additionally, 52.5% believe that a 12-month warranty is crucial. Buyers are increasingly willing to invest more, with 32.4% spending between ₹21,000–35,000 and 17.1% exceeding ₹50,000 for refurbished options.