While everyone wants to purchase brand new smartphones, it has become quite apparent that phones are getting more expensive day by day. This means that buying a high quality smartphone is not something everyone can afford.
Why the rise?
In a recent study it was discovered (after analysing a lot of use cases), India’s second hand smartphone market is growing at a fairly rapid rate. There have been several instances of people buying refurbished (used by someone and then packaged as new after wiping the device clean) phones instead of buying new ones.
Sure, a new phone is obviously better than a second hand phone and it may also come with a longer, more reliable warranty. But what everyone needs to understand is the fact that smartphones depreciate in value as soon as they are taken outside their box. This means that even if a person has brought a mobile for Rs 40,000, the phone may be worth half that in 6 months.
In most cases, this Rs 40,000 phone will be the same as other Rs 40,000 phones in the next six months. So you can buy this 40k smartphone for 20k and still be in the same league as flagship phones. It makes sense for the end user.
The Cashify Impact
Cashify has been pioneering the industry with its cash for old smartphone policy. Users can sell their smartphones at Cashify, picked up right from their doorstep, at highly attractive rates! This has truly opened the second-hand smartphone market for some long term growth. Bottomline is, that buying a second-hand smartphone is great if you want high end specs for a low price. Be careful about where you buy from though.