Rise of the refurbished trend
Understanding the positives of buying a refurbished device, 85% users are open to the idea of doing it again. Affordability is a key factor as 70% users bought refurbished phones because they were available at a comfortable budget to them. A 12% of respondents bought refurbished phones as a spare devices and 13% brought home a refurbished device as a gift for a loved one.
Interestingly, out of 8,000, a whopping 71% users understand the concept of e-waste, but only 48% know about the process of recycling their old devices. Upon asking if they would be interested in recycling their devices, a healthy 58% agreed, while 27% users wanted a monetary benefit in return and only 15% users did not want anything to do with recycling, with an additional 4% worried about data privacy.
The whitepaper revealed that 40% of respondents repaired their phones due to screen issues, 25% due to battery concerns, 10% camera problems and 25% due to other phone issues. New Delhi was the city that booked maximum repairs i.e. nearly 25% of the total repairs.
Xiaomi, Apple and Samsung: Most Sold Used Phones
Xiaomi (25%), Apple (16%), and Samsung (15%) ended up being the top three brands whose used smartphones were sold by customers. The Apple iPhone 7 grabbed the top spot for buyback, and Redmi Note 5 Pro made it to the second spot followed by Redmi Note 4, Apple iPhone 6 and Apple iPhone X.
Kolkata, Pune least truthful
Measured by the percentage of smartphone users who stated the actual condition of their devices most truthfully, while putting them up for sale online. Bangalore topped the index with 29%, followed by Hyderabad with 28% while Kolkata and Pune were the least truthful with 21% each.
It would be interesting to understand the dynamics of the refurbished smartphone market moving forward. Barring a few inconsistencies, the market promises a host of benefits including less e-waste, budget-friendly deals and ease of selling used phones online. The full summary of the Whitepaper survey is available on the Cashify website.