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iPhone bucks slowdown in India’s refurbished phone market

Money ControlMoney Control · 5m
iPhone bucks slowdown in India’s refurbished phone market

The growth of India's refurbished smartphone market is slowing down, primarily due to selective demand for high-end smartphones, particularly Apple's iPhones. The market expanded in high single digits in 2023, compared to over 20% growth in previous years. This deceleration is expected to continue in 2024. While some analysts suggest market maturity as the reason for the slowdown, others believe it is a natural progression as consumers upgrade their smartphones less frequently. However, sellers like Cashify and ReFit Global remain optimistic, citing the demand for premium phones and growing customer awareness about refurbished devices. The demand for iPhones leads the growth, with consumers seeking previous-generation models at lower prices.

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