Overview: This report presents a comprehensive analysis of India’s refurbished smartphone industry, one of the fastest-growing markets globally. Drawing on in-depth research and interviews with key stakeholders, it provides valuable insights into refurbished smartphone sales and the evolving dynamics of the market in H1 2025. The study compares global and Indian trends, while closely examining brand-level performance, demand drivers, and supply-side challenges. It further explores critical aspects such as 5G adoption, AI integration, model-level shifts, and ASP trends, as well as the roles of both organized and unorganized players. Additionally, the report assesses the impact of the iPhone 17 series launch, recent government policies on secondary market operations and the way forward in 2025.

This analysis serves as a key resource for understanding India’s secondary smartphone market, its major stakeholders, growth enablers, and the factors shaping pricing dynamics.