Apple iPhones dominate India’s refurbished smartphone market

Premium segment drives Apple iPhone demand

The strongest demand for used Apple iPhones is in the premium bracket above €660 (Rs 60,000). This segment grew by 33% year over year, driven by popular models such as the Apple iPhone 14 Pro, Apple iPhone 13 Pro Max, and Apple iPhone 12 Pro. India exported 151 million smartphones in 2024, with the average selling price rising to about €250 (Rs 22,100), underlining the country’s rising appetite for high-end technology.

Apple as the aspirational brand

“Three out of every five refurbished buyers opting for iPhones reflects how Apple is now the default aspirational brand in India’s second-hand market,” said Cashify Co-founder and CEO Mandeep Manocha. “What used to be niche is now mainstream, with structured resale unlocking affordability and trust.”

The rise of the drawer economy

The study also highlights the so-called “Drawer Economy,” where many consumers hold onto unused devices. Around 70% of users keep two or three idle phones at home, while 33% of sellers trade old phones to fund upgrades and 40% are influenced by buyback incentives. Despite the growing formal sector, 77% of second-hand transactions still take place through informal grey market channels.

Repair, resale, and future growth

Although 57.9% of shoppers prefer repair over replacement, affordability and repairability challenges continue to hinder broader adoption. Globally, the secondary smartphone market is projected to reach €219.7 billion by 2033, with India positioned as a leading growth driver. Apple iPhones, with their strong resale value and long product life cycle, remain central to this momentum in India’s evolving refurbished landscape.