As India's smartphone market grows, sale of pre-owned phones on the rise

With more and more Indians aiming to own high-end smartphones, the pre-owned smartphone market is booming. On the online trading platform OLX, the average selling price (ASP) of a pre-owned smartphone has jumped from Rs 9,000 to Rs 11,000 in just one year, the company said on Saturday in a press release. Millions of users, across India, prefer to buy second-hand smartphones as desired features would be available at affordable prices.

Such second-hand phones are traded on several platforms such as OLX, Quickr and others. According to the OLX report, almost 14 million mobile phones and accessories listings in the financial year 2017-18, especially in tier II and III cities.

With high penetration and frequent updates, consumers are upgrading to new models within months and this is one reason people switch phones selling and buying second-hand phones from time to time.