The growth in India’s refurbished smartphone market is being supported by increasing price pressure in the new smartphone market, particularly in the entry and mid-range segments, where consumers are more price sensitive. For value-conscious consumers, higher prices in the entry and mid-range segments are making the premium refurbished proposition increasingly attractive. Instead of buying a new mid-range device at a higher price, consumers can access older premium smartphones with better cameras, displays and performance at a lower price.

Trade-in and exchange programs are also becoming important growth levers for the refurbished market. Better exchange valuations, instant discounts, flexible upgrade offers and seasonal promotions can encourage consumers to return older devices rather than retain them unused or sell them through informal channels. These programs can improve the flow of recent-generation smartphones into refurbishment networks, expand consumer choice and support more frequent device upgrades. The expansion of refurbishment also supports the circular economy by extending device lifecycles and maximizing the value of smartphones already in circulation.

The market is also witnessing a gradual shift toward more certified refurbishment. The organized ecosystem is maturing, with established retailers, OEMs, recommerce platforms and new certified refurbishment players expanding their presence. Increasing foreign investment in India’s refurbished market is helping professionalize the ecosystem, with stronger quality standards, greater transparency and improved consumer trust.

India Refurbished OEM Market Share, H1 2026

Apple is benefiting particularly well from this transition in the organized market. The iPhone 13 has emerged as one of the most preferred refurbished models, combining a relatively premium experience with an affordable price tag. Samsung remains the overall market leader in India’s refurbished smartphone market with a 30% share, while its Certified Re-Newed initiative and other OEM-led programs are helping bring greater structure and credibility to the category.

Commenting on the market dynamics, Senior Analyst Prachir Singh said, “Rising memory prices are changing the value equation for consumers. As the cost of new smartphones increases, refurbished devices offer a more affordable way to access premium specifications. The lower upfront cost, combined with the growing availability of easy EMI and financing options, is making premium refurbished smartphones accessible to a wider consumer base.”

“One factor that is still relatively underdiscussed is software longevity. OEMs offering longer OS and security updates can give their smartphones a stronger second life, which not only benefits consumers buying refurbished devices but can also become an important sales pitch for the secondary market. A device that continues to receive meaningful software support for several years is easier to position as a reliable, certified refurbished purchase,” Singh added.

Commenting on the refurbished market expansion, Research Director Tarun Pathak said, “The growing adoption of refurbished smartphones is fundamentally a consumer shift amid rising new-device prices. Cashify remains a key player in India’s organized refurbished ecosystem, with its expanding offline footprint, premium product offerings and continued investment in the business. Its reported plans to list in early 2027 further underscore the growing scale, maturity and institutional interest in India’s recommerce opportunity. At the same time, emerging players such as ControlZ, GREST, Budli and other recommerce players are broadening the organized ecosystem.”

Counterpoint Research expects India’s refurbished smartphone market to grow 16% in 2026, supported by rising new-device prices, premiumization and increasing consumer acceptance of pre-owned smartphones. Demand is expected to receive additional support in H2 2026 from the festive season and the launch of new flagship smartphones, which could further stimulate trade-ins and increase the availability of recent-generation devices in the secondary market. OEM participation and circular-economy initiatives should support the long-term development of the organized segment.

About Counterpoint Research

Counterpoint Research is a global market research firm specializing in products across the technology ecosystem. We advise a diverse range of clients – from smartphone OEMs to chipmakers and channel players to Big Tech – through our offices located in the world's major innovation hubs, manufacturing clusters and commercial centers. Our analyst team, led by seasoned experts, engages with stakeholders across the enterprise – from the C-suite to professionals in strategy, analyst relations (AR), market intelligence (MI), business intelligence (BI), product and marketing – to deliver services spanning market data, industry thought leadership and consulting. Our core areas of coverage include AI, Automotive, Consumer Electronics, Displays, eSIM, IoT, Location Platforms, Macroeconomics, Manufacturing, Networks and Infrastructure, Semiconductors, Smartphones and Wearables. Visit our Insights page to explore our publicly available market data, insights and thought leadership, and to understand our focus, meet our analysts and start a conversation.

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