Indians are starting to prefer buying used smartphones, and IDC research shows that in 2024, around 20 million used smartphones will be traded, representing a year-on-year (YoY) growth of 9.6%. This growth surpasses the new smartphone shipment growth, which stands at 5.5% YoY with approximately 154 million units shipped. According to IDC, one of the major drivers of the used smartphone market’s growth is the increasing demand for 5G phones, along with the desire to own quality devices, like iPhones, without paying a premium price.
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Used Smartphones Are More Popular Than Ever Before
IDC highlights a growing trend among Indian consumers who want to own high-quality devices without spending too much. Buying used handsets fulfils this desire, leading to more trades and contributing to the 9.6% YoY growth.
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Another significant factor is the rising popularity of 5G in the country. Currently, only one-third of smartphone users in India have access to 5G. Given the high price gap between 4G and 5G smartphones, many consumers are opting to purchase mid-range 5G phones in the used market to experience 5G at a more affordable price point.
IDC predicts that the Indian used smartphone market will grow at a compound annual growth rate (CAGR) of 8% over the next five years, reaching 26.5 million units per annum by 2028.
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iPhone: The Top Choice in the Used Smartphone Market
iPhones are aspirational products in India, and purchasing one in the used market makes them accessible to many people who cannot afford to buy them at full price. In fact, iPhones are leading the used smartphone space, capturing a quarter of the market, according to IDC’s Quarterly Used Device Tracker. Popular models include the iPhone 11, iPhone 12, and iPhone 13, all of which are in high demand for this reason.
iPhones like the iPhone 13 can now be bought for around ₹25,000 to ₹35,000 in the used market, which becomes an attractive proposition for many buyers. For some Android users, this can even influence their decision to switch to an iPhone.
In fact, buying models like the iPhone 15 Pro in the used market is also a tredn that we have seen. Customers can easily buy handsets in good to mind condition, with 90% and above battery health for around ₹75,000. This makes owing these ‘Pro’ devices easier than ever before.
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