The Indian secondary smartphone market is expanding rapidly, driven by consumer preference for certified used premium devices, supply chain challenges, and innovative financing options, with Apple dominating the refurbished segment.
India’s refurbished smartphone market is expanding because many buyers now see a certified used device as the practical route to a premium handset rather than a compromise. NDTV Profit, citing Counterpoint Research, said the secondary market is expected to grow 12% this year even as sales of new phones are forecast to decline 11%. The report added that refurbished and pre-owned devices accounted for 26% of smartphone units sold between January and May, up from about 23% a year earlier, as component shortages pushed prices higher across the market.
That shift is especially visible at the premium end. Shrey Sardana, co-founder and chief executive of Grest, told NDTV Profit that tighter supply and rising parts costs have encouraged consumers to keep buying the devices they want, but through refurbished channels that offer grading, checks and warranty cover. iPhones are the strongest draw on his platform, with the iPhone 15 and iPhone 16 among the most sought-after models. Buyers range from those spending around ₹15,000 to those paying more than ₹1 lakh.
Financing is helping to widen the market. Sardana said instalment plans account for an estimated 40% to 50% of iPhone purchases in India, making expensive models easier to buy in monthly payments. The same appetite is carrying into iPads and MacBooks, particularly among students and younger professionals looking for a lower-cost way into Apple’s ecosystem. A separate report by Cashify, cited by Mint, found Apple took 62.9% of India’s refurbished smartphone sales in the first half of 2025, with demand increasingly shifting towards Pro models and higher-storage variants.
The broader market still remains fragmented. Business Standard reported, using Counterpoint data, that the secondary smartphone market accounted for about a fifth of all smartphone sales in India in 2024, but most transactions still happen through informal sellers and local shops. Moneycontrol said the unorganised segment makes up the bulk of the market, although organised players are gaining trust through warranties and quality checks. Outside India, IMARC Group projects the country’s used smartphone market will keep growing through 2034, reflecting the same price sensitivity that is now pushing more consumers towards refurbished devices.
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