By Juliet Umeh
A new study by re-commerce company, Cashify, has revealed that lovers of second-hand smartphones preferred Xiaomi, to others such as Apple, Samsung in 2019.
According to a survey of 1 million users, top-selling brands in the resale category in 2019 were Xiaomi, 27 percent; Samsung, 16 percent; Apple, 16 percent; Motorola, 12 percent; Vivo, 5 percent; OnePlus, 4 percent and Oppo, 4 percent.
Co-founder and COO of Cashify, Nakul Kumar, said generally, the second hand
market mirrors the trend in the new smartphone market.
He said: “The major diversion seen here is for Apple, because it is an aspirational premium brand which most Indians can only buy as an affordable second hand device.”
The report said from 14 million shipments in 2018 to 2019, refurbished handsets are expected to grow by 20-25 percent by 2020. The entire pre-owned smartphone market, on the other hand, is expected to almost double its sales to 48 million in 2020 from 26 million in 2016.
Kumar added: “Numerous launches, more brand options, new price points and the overall aspirational value of an upgrade, are some of the factors that led the second-hand smartphone industry to widen its turf during 2019-20.
“Post COVID-19, 32 percent of the respondents bought refurbished gadgets due to the remote working followed by 26 percent due to shift in work, digital learning and entertainment. Mid-segment dominated the purchase during Covid due to impact in disposable income,” he said.