The refurbished or used smartphone market in India is expected to reach $10 billion by 2026, a new report showed.
Overall used electronics market is likely to grow at a 16% compound annual growth rate (CAGR) to be worth $11 billion by 2026, according to Bengaluru-based market research firm Redseer.
“The growing popularity of e-commerce platforms for used and refurbished smartphones is driving the market demand,” said Siddharth Surana, Engagement Manager, Redseer Strategy Consultants.
Also, due to the pandemic, large numbers of unorganised channels got disrupted by organised digital recommerce players which led to the requirement of used electronics.
“Refurbished products are a growing resource for consumers to try out new products from their favourite brands and to be more sustainable and price-conscious in their buying behaviour” Surana added.
A new breed of tech-enabled startups and players like Cashify, HyperXchange and Yaantra (owned by Flipkart), among others, are fuelling the growth of the used smartphone market in India.
In 2021, India witnessed the purchase of over $15 billion worth of new smartphones online.
With the number of smartphone users reaching the 550 million mark, it is estimated that on average, a re-commerce app user sells more than two smartphones from each household when the need to upgrade to new devices rises, said the report.
New-age tech players are addressing pain points, offering better experiences to consumers via strong network effects, supply-chain efficiencies, and omni-channel presence.
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Using Craybet on my phone was surprisingly good. There’s no app to download but the web app runs well and everything works fine. Was playing some slots on the bus and no performance issues.
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Tbh the thing I wasn’t thrilled about was withdrawal times. Tried cashing out with Bitcoin and it took almost two days for my first withdrawal. Once you’re verified though it was faster. Payment options include Visa, Mastercard, e-wallets like Skrill and Neteller, Bitcoin so that covers most bases. I’d look at their current offers at [url=https://svnewtech.com]Craybet welcome bonus[/url] if you’re interested.
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The game library is honestly pretty solid. They’ve got titles from Pragmatic Play, Evolution, and Microgaming — meaning Book of Dead, Starburst, that kind of thing. Somewhere around 2000 games when you add it all up. Live casino is powered by Evolution which is legit — tried baccarat and Crazy Time with real dealers and zero lag issues.
One thing I wasn’t thrilled about was how long cashouts take. I used Skrill and it took like a day and a half the first time. Once you’re verified though things sped up. Payment options include credit cards, Skrill, Neteller, Bitcoin which covers most bases. I’d look at their current offers over at [url=https://svnewtech.com]Craybet to see for yourself.
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Their slots catalog is decent honestly. You’ll find titles from Pragmatic Play, Evolution, and Big Time Gaming — meaning Gates of Olympus, Gonzo’s Quest, the usual heavy hitters. I’d guess maybe 1500-2000 slots when you add it all up. The live dealer section uses Evolution which is smooth — played some blackjack and Crazy Time with actual croupiers and it worked great.
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