Cashify sees premium 5G iPhones drive India’s refurbished-phone upgrades
Phones priced above Rs 45,000 rose to 17.4% of Cashify’s refurbished sales in 2025, while 5G devices reached 61%. iPhones accounted for 65.3% of sales as rising new-phone prices push consumers toward premium pre-owned upgrades.
What happened
India’s refurbished-phone market is shifting toward premium upgrades as new-device prices rise and discounts narrow. Cashify reports growing demand for
Key facts
- Smartphones above Rs 45,000 were 17.4% of Cashify refurbished sales in 2025, versus 10.9% a year earlier
- 5G phones were 61% of refurbished sales, versus 18.4% a year earlier
- iPhones represented 65.3% of sales; iPhone 13 represented 15.5%
- India smartphone ASP rose 14.4% year-on-year to $315 (about Rs 27,700) in the June quarter
- Nearly 95% of smartphone models increased prices between January and July
- Secondary devices account for roughly one in five smartphones sold in India, versus about 12% in 2021
- Refurbished volumes rose 13% year-on-year in January-June while new smartphone volumes fell about 11%
- Counterpoint forecasts 16% refurbished-market growth in 2026
- Sub-Rs 10,000 phones fell to 8.4% of Cashify refurbished sales from 10.7%
- IDC expects sub-$100 smartphone shipments to fall more than 80% in 2026
Why this matters
Strategic buyers should view Cashify as an attractive route to India’s premium recommerce customer base, with partnership or acquisition value concentrated in device sourcing, refurbishment and trade-in capabilities.
What to watch
- Share of refurbished sales above Rs 45,000 and whether it sustains above 17.4%.
- 5G-device mix progression beyond 61% and the pace of 4G inventory markdowns.
- iPhone share of refurbished sales, resale-value trends, and availability of recent-generation devices.
- Average selling price, gross margin per device, warranty-claim rate, and return rate for premium handsets.
- EMI adoption, approval rates, delinquency trends, and financing partner appetite.
- Competitive moves from OEM-certified refurbished programs, Amazon/Flipkart, local retail chains, and quick-commerce-like electronics channels.
- India smartphone replacement-cycle data and new premium-phone price increases.
- Refurbished-market growth relative to Counterpoint's 16% 2026 forecast.
- Increase trade-in incentives for recent iPhone and premium 5G Android models to secure high-demand inventory.
- Expand device grading, battery-health disclosure, warranty, and return policies to support premium pricing and reduce trust barriers.
- Bundle EMI financing, protection plans, accessories, and buyback guarantees to raise conversion and lifetime value.
- Prioritize offline collection and service points in tier-2 and tier-3 cities, where premium aspiration can outpace new-device affordability.
- Build OEM, carrier, enterprise, and corporate-device buyback partnerships to stabilize premium handset supply.
- Use premium refurbished demand data to tighten inventory allocation toward 5G models while avoiding overstock of older 4G devices.