Costlier new phones drive demand for refurbished devices in India: Report

India's refurbished smartphone market is growing as new devices get costlier, with Counterpoint Research reporting a 13 per cent rise in volumes in the first half of this year

India's refurbished smartphone market has gained momentum as smartphone price increases begin to reshape the new-device market. According to market tracker Counterpoint Research, refurbished smartphone volumes in India grew 13 per cent year-on-year in the first half of CY2026, even as new smartphone volumes declined by around 11 per cent. It attributed the growth partly to rising prices in the entry and mid-range segments, which are pushing more price-sensitive consumers towards the secondary market.

Rising prices are changing the role of refurbished phones

The relationship between new and refurbished phone prices is not fixed. When new devices get discounted during sales or festive periods, the price gap can narrow temporarily. But when manufacturers raise prices, refurbished devices tend to retain their appeal because their absolute price remains lower.

 

 

Mandeep Manocha, co-founder and chief executive officer of online recommerce platform Cashify, previously told Business Standard that refurbished phones are less exposed to rising component costs since they extend the life of devices already in circulation rather than requiring new manufacturing. He also said higher costs for displays, batteries and camera modules can raise refurbishment expenses, though the impact differs from what new-device manufacturers face.

The supply of replacement parts is also shifting. Omdia had reported that display shipments to the refurbished smartphone market reached 298 million units in the first quarter of 2026, up 20 per cent year-on-year, exceeding the 289 million panels shipped to smartphone manufacturers. Organic light-emitting diode (OLED) panels accounted for 7 per cent of refurbished-channel display shipments, up from 2 per cent a year earlier.

 

Greater availability of OLED panels matters because displays are among the more expensive components to replace on premium smartphones. It could make it easier for refurbishment platforms to restore newer flagship devices and keep them in circulation.

Trade-ins are connecting the new and refurbished markets

The growing refurbished market is also becoming more closely tied to how consumers buy new smartphones. Trade-ins and buybacks provide a steady supply of relatively recent devices, while refurbished phones give consumers another route to higher specifications without paying flagship prices.

 

Counterpoint expects India's refurbished smartphone market to grow 16 per cent in 2026. It expects festive-season demand and new flagship launches in the second half of the year to support the market by increasing trade-ins and the availability of recent-generation devices.

The organised market is also becoming more structured. Samsung launched its Certified Re-Newed programme in India earlier this year, selling refurbished Galaxy smartphones with genuine parts and a one-year warranty. Google also runs an authorised refurbished Pixel programme in India through Cashify.

 

There is another source of potential supply sitting outside the organised market.

 

Cashify estimates that seven in 10 Indians continue to keep two to three unused phones at home. Its report says structured trade-ins, certified buybacks and upgrade programmes could bring some of these devices back into circulation.

Buyers are moving beyond the cheapest phones

In its latest report, based on data from 2025, Cashify found that the Rs 20,000 to Rs 45,000 category accounted for the largest share of refurbished smartphone sales. On the platform, the Rs 20,000 to Rs 30,000 segment accounted for 26.9 per cent, while the Rs 30,000 to Rs 45,000 segment accounted for 25.1 per cent.

 

In the upper mid-range segment — Rs 45,000 to Rs 60,000 — the share rose to 11.2 per cent from 7.5 per cent in 2024, while that of phones priced above Rs 60,000 climbed to 6.2 per cent from 3.4 per cent.

 

At the other end of the price spectrum, the share of sub-Rs 10,000 refurbished phones fell to 8.4 per cent in 2025 from 10.7 per cent in 2024.

 

Apple sits at the centre of that change. The company accounted for 65.3 per cent of Cashify's refurbished smartphone sales in 2025, compared with 32.6 per cent of buybacks.

 

The iPhone 13 was the most purchased refurbished phone, accounting for 15.5 per cent of Cashify's sales in 2025. It was also the largest source of iPhone buybacks, accounting for 6.93 per cent of total buybacks.

 

Counterpoint also identified the iPhone 13 as one of the preferred refurbished models. In its H1 2026 data, Apple accounted for 23 per cent of India's organised refurbished smartphone market, behind Samsung at 30 per cent. Vivo accounted for 10 per cent, with other brands making up the remaining 37 per cent.

The phones entering the market are getting newer

Cashify's average buyback value rose 34 per cent in 2025 to Rs 8,573, while mobile buybacks grew 29 per cent. More notably, the share of 5G phones sold to Cashify rose from 5 per cent in 2022 to 54.6 per cent in 2025.

 

The change is visible across brands.

 

Among Samsung phones, for instance, the Galaxy S23 5G was the most purchased refurbished model, followed by the S23 Ultra 5G and S22 5G. Cashify said Galaxy S-series phones are increasingly entering the secondary market after relatively short ownership periods.

 

A similar pattern is emerging with Apple, where the iPhone 14 and iPhone 15 are beginning to follow the iPhone 13 into the refurbished market. Cashify says these devices are entering the secondary market while they still hold substantial residual value.