Now Reading: Refurbished iPhones defy depreciation, prices rising in India
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Refurbished iPhones defy depreciation, prices rising in India
A two-year-old refurbished iPhone 15 now sells for roughly Rs 48,000 in India, nearly double the Rs 25,000 that a similarly aged iPhone 12 cost three years ago, according to a Mint…
The Story in Brief
A two-year-old refurbished iPhone 15 now sells for roughly Rs 48,000 in India, nearly double the Rs 25,000 that a similarly aged iPhone 12 cost three years ago, according to a Mint report citing research across platforms such as Cashify and ReFit. The unusual price rise stems from new smartphone prices climbing sharply, up 40% in some cases, while consumers hold on to devices longer, reducing supply entering the second-hand market. Refurbished iPhone demand is soaring from tier-II cities. Platforms like ControlZ are paying 30-40% more to secure devices but still meet only half of demand. Cashify expects to double its iPhone refurbished sales this fiscal.
The Indian Opinion
The tale of appreciating used iPhones is now a familiar complaint among aspirational buyers. Lazy narratives pit 'Apple greed' against 'frugal Indian consumers', but the real story is simpler: new phones cost 40% more, so people keep old ones longer, starving the refurbished market of supply. Both retailers and buyers are squeezed. The true test will come with this festive season: if iPhone 18 launches at a hefty premium, will the iPhone 17 really not drop in price, as analysts expect?
Sources (2): ndtvprofit.com, livemint.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
