India has come into the limelight as one of the markets booming for refurbished devices.
Recent studies show an upward trend in 2019 and 2020 and progressively positive growth.
Let’s quickly run you through what is a refurbished smartphone or device before we move ahead.
To begin with, no, they are not just second-hand or used gadgets. They are pre-owned gadgets
and are reconditioned to make them like a new device that comes packed in the original box.
Refurbished smartphones could also be phones that were returned back to the seller immediately
after opening the box only because he/she did not like them. Such phones are passed through
stringent quality checks and then quality-certified as refurbished. The refurbished devices also
come with a warranty typically for 6 months to a year for any unforeseen defects in the gadget.
Factors that drive Refurbished Devices in the Indian Market:
As we see that sales of smartphones and mobile phones are on the rise in India, consumers
now choose to trade in their devices which are adding to the supply of refurbished devices market
in India. The demand is huge from tier 2, tier 3 and tier 4 markets.
Customers earlier were selling/gifting their smartphones to friends and relatives but now with
many refurbished sellers online and offline, they choose to get a good value for their old device
and enjoy the benefit of selling the device from the comfort of their home.
As per a study conducted in Jan 2022, some known facts about the refurbished devices market in India are:
The overall refurbished electronic market in India is growing at a CAGR of 80%. Online presence and a structured process for sale with doorstep pick-up have helped the trade boom in India. Start-ups and small/medium-sized companies in India are now demanding supplies of refurbished smartphones and laptops for their business needs. The advantage you ask?
Refurbished gadgets are available at a 30-40% discount and these devices are nothing short of being brand-new pieces.
Why choose to buy a Refurbished Device?
You would understand by now that buying refurbished devices is an alternative to buying a brand-new device. While everything comes with its advantages and disadvantages, let us look into the pros and even cons of buying refurbished mobile and other electronic devices.
Pros:
1. Of course, the main reason why you must consider buying a refurbished device is that it is economical. You save money compared to buying a brand-new smartphone or other devices. Refurbished phones are sold at lower prices only because they have been pre-owned and cannot be labelled as “new”.
This option is best when you unexpectedly lose your mobile phone or it gets damaged unexpectedly and your budget does not allow you to purchase a new one immediately.
2. When you buy a refurbished device, you actually make your contribution towards keeping the environment clean. Refurbished mobile phones remain longer in circulation and hence the demand for newer smartphones and gadgets falls every 2 years and reduces the stress on our depleting natural resources. We would say this is the biggest Pro when you buy a refurbished device as you help Mother Earth heal.
3. A refurbished mobile phone device comes with a warranty. Should any problem or defect arise in your refurbished phone, you have the option of returning it back or having it exchanged if it is within the warranty period.
Like everything has an advantage and challenges, a refurbished mobile phone also has some challenges. But the pros outnumber the cons in this case.
Cons:
1. Keeping in mind that refurbished gadgets were used by someone or repaired, some of these gadgets could have some wear and tear. In most cases, there are minor scratches on the outer body of the device. But to rest assured certified refurbished smartphones have been passed through layers of stringent quality checks and are passed to be as good as new from the original manufacturers generally.
2. The warranty could be limited as compared to new devices. Typically, refurbished smartphones come with less than a year warranty which usually you get when you make a new purchase.
Having said the above, it does not mean that refurbished phones and other devices would definitely have some defects in them. According to research, these phones stand a very low chance of being defective as they are thoroughly inspected, serviced and tested several times before they are certified to be refurbished. They are also repacked with original packing to meet all standards as per the new one.
In general, we would conclude by saying that purchasing a refurbished electronic gadget is a very good option if you are looking at the replacement of your gadgets sooner or in an emergency as they are available at affordable and discounted prices.
