India's refurbished smartphone market is undergoing a significant transformation, driven by rising new device prices and shifting consumer preferences. As users extend their upgrade cycles, they are increasingly turning to pre-owned devices, particularly higher-end models.
Refurbished Market Sees Substantial Growth
A recent analysis by Cashify, titled 'Great Indian Upgrade 2026', reveals that demand for refurbished phones surged by 30.8% in 2025. Notably, consumer interest in devices priced above ₹45,000 rose to 17.4% of the market. The segment ranging from ₹20,000 to ₹45,000 accounted for the largest share of sales, while the sub-₹10,000 category saw a decline, dropping to approximately 8.4% of direct-to-consumer sales from 10.7% in 2024.
Apple has emerged as a dominant player in this evolving landscape, accounting for over 65% of all refurbished smartphone sales. The iPhone 13 was identified as the most frequently bought-back and subsequently purchased refurbished device. Beyond smartphones, other categories like laptops, tablets, and smartwatches also saw increased demand, making up 16.7% of refurbished sales, a significant jump from 8% in 2024.
Newer Models and Increased Buyback Value
The market is seeing newer smartphone models enter the resale channels more quickly. Mobile buybacks experienced a 29% year-on-year growth, with the average buyback value increasing by 34% to ₹8,573. The proportion of 5G-enabled devices sold back to Cashify escalated dramatically from 5% in 2022 to over 54% in 2025.
The iPhone 13 alone represented 6.93% of all buybacks and an impressive 15.5% of total refurbished sales. Newer models like the iPhone 14 and iPhone 15 are also beginning to follow this pattern, indicating a sustained trend towards premium refurbished devices.
Despite the growing market, data suggests that about seven out of ten Indians still retain two to three unused phones at home. Expanding structured resale networks, offering certified buybacks, IMEI verification, and warranty-backed resales could help bring these devices back into circulation, further boosting the circular economy.
India's Role in a Global Refurbishment Ecosystem
India is positioning itself as a key player in the global electronics industry, boasting over 300 mobile manufacturing units and achieving mobile phone exports worth ₹2 lakh crore in FY2024-25. Initiatives like the government's Electronics Repair Services Outsourcing pilot, involving companies such as Lenovo and Flex, are testing the repair of imported electronics in India for re-export.
The country generated over 14 lakh metric tonnes of e-waste in FY2025-26, with more than 9.79 lakh metric tonnes successfully recycled. Extending device lifecycles through robust reuse, repair, and refurbishment practices is seen as crucial for India to establish itself as a leader in the global refurbishment ecosystem, contributing to both economic growth and environmental sustainability.