Xiaomi retains its management place within the second-hand smartphone market with a 26% market share adopted by Apple, which has a 20% share. As per insights shared by Cashify, a used-smartphone market, in 2020 as a consequence of Covid-19 induced lockdowns which led folks to make money working from home and college students attending lessons by way of on-line mode, demand for smartphones elevated.
Probably the most essential causes for upgrading has been the necessity to have a smartphone with high-speed community connectivity (3G to 4G) and supporting apps for on-line lessons and make money working from home. “And those that couldn’t afford a brand new smartphone had been seen choosing refurbished units with Mi being the preferred amongst this section,” a Cashify survey mentioned.
The survey obtained responses from near 4,000 folks. As per the survey, a majority of Indians most popular shopping for smartphones over laptops, 84% of them upgraded their smartphone inside 14-18 months of buy. No-cost EMI choice and substitute guarantee had been the highest standards for buy.
When it comes to the market share of second-hand smartphones, Xiaomi tops the chart with 26% share adopted by Apple with 20% share, Samsung at 16% share and Vivo and Motorola at 6% every. The survey listed Delhi (23%), Mumbai (13%), Bangalore (11%), and Hyderabad (7%) as the highest 4 for gross sales of pre-owned smartphones. Satellite tv for pc cities akin to Ghaziabad, Faridabad, Ahmedabad and Lucknow have additionally proven strong progress and secured high spots within the upcoming metropolis class.
As per insights from the survey, folks bought their second-hand telephones on the common value of Rs 4,217 in 2020. Smartphones across the age of three years acquired bought essentially the most by customers and almost 62% of smartphone points are screen-related, battery points come subsequent with about 21%. As per the survey, 80% of the boys bought their smartphones whereas solely 20% of girls bought their smartphones in 2020.