Photograph: Lyle Kahney/Cult of Mac
Refurbished iPhones are “promoting like scorching desserts” in India. That is regardless of Apple not formally promoting pre-owned iPhones within the nation.
iPhones already dominate the premium smartphone market in India. Nevertheless, its share within the secondary market is 2x greater.
Second-hand iPhone market in India is rising quickly
A Monetary Occasions report delves into the large demand for pre-owned iPhones in India. Primarily based on information from Counterpoint Analysis, the report claims iPhones accounted for 11 % of secondary smartphone gross sales within the nation in 2022. That’s up from a mere 3 % in 2021.
For comparability, Apple has a 5 % share within the nation’s new smartphone market.
If not for provide points, iPhone’s progress in India’s pre-owned market might be even greater. That is because of the Indian authorities not permitting the import of refurbished iPhones into the nation. Secondly, there are solely so many second-hand iPhones out there in India.
Apple has beforehand unsuccessfully tried to persuade the Indian authorities to promote refurbished iPhones within the nation.
Not like Android telephones, an iPhone “passes by way of three or 4 palms earlier than it will get out of date,” says analyst Harshit Pandey from Redseer Technique Consultants.
Indians see Apple as an aspirational model
Within the second-hand market, there’s excessive demand for 5G-compatible fashions like iPhone 12 and newer. And gadgets as outdated because the iPhone 6s are being offered within the third or fourth-hand market. Many of those clients purchase a brand new iPhone in the long term.
Moreover iPhones, different Apple merchandise are additionally in demand in India’s refurbished market. Apple merchandise carry a better resale worth than different competing merchandise. This is because of their construct high quality and recognition. iPhones and Apple even have an aspirational worth amongst Indian shoppers.
Because of Apple’s continued concentrate on India lately, its market share within the nation will develop even additional.
