Xiaomi retains its leadership position in the second-hand smartphone marketplace with a 26% marketplace share followed by Apple, which has a 20% share. As per insights shared by Cashify, a employed-smartphone marketplace, in 2020 due to Covid-19 induced lockdowns which led persons to work from home and students attending classes via on the internet mode, demand for smartphones enhanced.
One of the most significant causes for upgrading has been the want to have a smartphone with higher-speed network connectivity (3G to 4G) and supporting apps for on the internet classes and work from home. “And those who couldn’t afford a new smartphone were seen opting for refurbished devices with Mi being the most popular among this segment,” a Cashify survey mentioned.
The survey received responses from close to 4,000 persons. As per the survey, a majority of Indians preferred shopping for smartphones more than laptops, 84% of them upgraded their smartphone inside 14-18 months of acquire. No-expense EMI solution and replacement warranty have been the leading criteria for acquire.
In terms of the marketplace share of second-hand smartphones, Xiaomi tops the chart with 26% share followed by Apple with 20% share, Samsung at 16% share and Vivo and Motorola at 6% every single. The survey listed Delhi (23%), Mumbai (13%), Bangalore (11%), and Hyderabad (7%) as the leading 4 for sales of pre-owned smartphones. Satellite towns such as Ghaziabad, Faridabad, Ahmedabad and Lucknow have also shown robust development and secured leading spots in the upcoming city category.
As per insights from the survey, persons sold their second-hand phones at the typical cost of Rs 4,217 in 2020. Smartphones about the age of 3 years got sold the most by customers and practically 62% of smartphone difficulties are screen-associated, battery difficulties come next with about 21%. As per the survey, 80% of the guys sold their smartphones although only 20% of females sold their smartphones in 2020.