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Mobile phones in the price bracket of Rs 4,000-6,000 are selling out in less than 30 minutes.
The pandemic and the subsequent lockdown have disrupted manufacturing and supply chains globally. It also led to lower disposable income in the hands of people for purchasing different products. Owing to such disruptions and the delayed availability of brand-new mobile handsets and laptops, people have now started to opt for refurbished products.
The market of refurbished phones and laptops has witnessed new highs and as per market trackers, the sales of such devices are expected to almost double in 2021 as compared to 2019, according to a report in The Economic Times.
Sharp surge in demand
Mobile phones in the price bracket of Rs 4,000-6,000 are selling out in less than 30 minutes. The surge in the demand for smartphones exceeds that of laptops and the dependence on handsets has grown manifold over the last year, said Jayant Jha, CEO of Yaantra, a web marketplace for refurbished mobile phones according to the media report.
When a smartphone handset that was previously owned by someone is repaired or restored and sold in a proper working condition by a reseller it is called a refurbished phone. Like new phones, these also come with a warranty and other similar features.
Due to the pandemic, the sales of smartphones have skyrocketed owing to the increased dependence on them by students as well as professionals. With most of the classes now being conducted online, the demand for phones by students has gone up substantially. With supply chains being disrupted due to the closure of ports, logistical issues and global chipset shortages, people prefer refurbished phones rather than waiting for a new model.
Consumers are now going for laptops priced in and around Rs 30,000 or tablets in the range of Rs 10,000-15,000. As per the estimates by research firm IDC, the sale of refurbished mobiles in 2021 is expected to grow more than double to 40-48 million units from 20-30 million in 2019, the report added.