India turns to refurbished smartphones as new device volumes drop 11%
India's refurbished smartphone market grew 13 per cent year-on-year in the first half of 2026 even as sales of new smartphones declined by around 11 per cent, according to a report by Counterpoint Research.
The refurbished market gained momentum as rising prices of new devices prompted consumers to seek more affordable ways of accessing premium smartphones.
Counterpoint Research expects India's refurbished smartphone market to grow 16 per cent in 2026, supported by higher prices of new devices, premiumisation and growing consumer acceptance of pre-owned smartphones.
Demand could get a further boost in the second half of the year from the festive season and the launch of new flagship smartphones, which are expected to drive trade-ins and increase the availability of recent-generation devices in the secondary market.
"India's refurbished smartphone volumes grew 13 per cent YoY in H1 2026, even as new smartphone volumes declined by around 11 per cent YoY," the research firm said in its latest global pre-owned smartphone market report for H1 2026.
The report said rising price pressure in the new smartphone market, particularly in the entry and mid-range segments, was helping drive demand for refurbished devices among price-conscious consumers.
Instead of purchasing a new mid-range smartphone at a higher price, consumers can opt for older premium models that offer better cameras, displays and performance at lower prices, it noted.
Trade-in and exchange programmes are also emerging as important growth drivers for the refurbished market. Better exchange valuations, instant discounts, flexible upgrade options and seasonal promotions can encourage consumers to return old devices instead of keeping them unused or selling them through informal channels.
Such programmes can increase the supply of recent-generation smartphones to refurbishment networks, broaden consumer choice and encourage more frequent upgrades.
The expansion of the refurbished market also contributes to the circular economy by extending smartphone lifecycles and maximising the value of devices already in circulation, the report said.
Counterpoint noted that the market is gradually moving towards certified refurbishment, while the organised ecosystem is expanding with established retailers, original equipment manufacturers, e-commerce platforms and new certified refurbishment players increasing their presence.
Rising foreign investment in India's refurbished smartphone sector is also helping professionalise the market through stronger quality standards, greater transparency and improved consumer confidence, it said.
Apple has particularly benefited from the shift towards organised refurbishment, with the iPhone 13 emerging as one of the most preferred refurbished models due to its combination of premium features and relatively affordable pricing.
Samsung continues to lead India's refurbished smartphone market with a 30 per cent share. Its Certified Re-Newed programme and other OEM-led initiatives are helping bring greater structure and credibility to the segment, the report said.
Senior Analyst Prachir Singh said rising memory prices were also altering the value equation for consumers.
"As the cost of new smartphones increases, refurbished devices offer a more affordable way to access premium specifications. The lower upfront cost, combined with the growing availability of easy EMI and financing options, is making premium refurbished smartphones accessible to a wider consumer base," Singh said.
Research Director Tarun Pathak said the growing adoption of refurbished smartphones reflected a broader consumer shift as new-device prices rise.
"Cashify remains a key player in India's organised refurbished ecosystem, with its expanding offline footprint, premium product offerings and continued investment in the business," Pathak said.
At the same time, emerging players such as ControlZ, GREST and Budli, along with other recommerce companies, are expanding the organised refurbished smartphone ecosystem, he added.