India's refurbished smartphone market is experiencing a significant shift, with a notable increase in demand for premium devices. This trend is largely influenced by the rising cost of new smartphones, evolving consumer upgrade cycles, and a growing appetite for high-end technology at a more accessible price point.
Premium Devices Drive Market Growth
According to an analysis by Cashify, the refurbished phone market in India grew by 30.8% in 2025. A key highlight of this growth is the surge in demand for premium devices, with phones priced above ₹45,000 accounting for 17.4% of total sales. While the ₹20,000 - ₹45,000 segment still holds the largest share of refurbished sales, the budget segment for devices under ₹10,000 saw a decline to 8.4% from 10.7% in 2024, indicating a clear move upmarket.
iPhones Dominate Refurbished Sales
Apple's iPhones have emerged as the frontrunner in the premium refurbished segment, capturing more than 65% of all refurbished smartphone sales. The iPhone 13, in particular, was identified as the most frequently bought-back and purchased device. Following this trend, newer models like the iPhone 14 and iPhone 15 are also beginning to make their way into the secondary market, signaling a continuous supply of relatively recent premium devices.
Broader Trends in Device Resale
The overall mobile buyback market saw a 29% year-on-year increase, with the average buyback value rising by 34% to ₹8,573. The adoption of 5G technology is also evident, as 5G-enabled devices constituted over 54% of phones sold back to Cashify in 2025, a significant jump from just 5% in 2022. Beyond smartphones, other refurbished categories such as laptops, tablets, and smartwatches also experienced substantial growth, increasing their share of refurbished sales to 16.7% from 8% in 2024.
Unlocking Dormant Devices and India's Potential
Despite the booming market, an estimated seven out of ten Indians still retain two to three unused phones at home. Initiatives like structured trade-in programs, certified buybacks, IMEI verification, and warranty-backed resale schemes could play a crucial role in bringing these dormant devices back into circulation, further boosting the circular economy. With over 300 mobile manufacturing units and robust mobile phone exports, India is well-positioned to develop a global refurbishment ecosystem, contributing to e-waste reduction and extending the lifecycle of electronic devices.