India’s organised refurbished smartphone market is on track to close 2025 with double-digit growth, even after a challenging first half triggered by the exit of major e-commerce platforms Amazon and Flipkart
Industry executives say the setback proved short-lived. A strong festive season revived demand, while organised players adapted by strengthening direct-to-consumer (D2C) strategies and diversifying into adjacent categories such as laptops, cameras, smartwatches, and gaming consoles.
According to Counterpoint Research, India’s refurbished smartphone market grew 9% year-on-year in the first half of 2025. This shift has accelerated the move toward D2C models, with companies like Cashify and ControlZ expa
ControlZ co-founder Yug Bhatia noted that while the exit of large marketplaces created short-term disruption, it opened a long-term opportunity for organised players. The company has expanded beyond iPhones to include Android devices, seeing clear demand growth. Revenues from D2C channels have nearly doubled year-on-year, surpassing last year’s monthly averages.
Cashify, the largest organised refurbished handset seller, expects to close 2025 with a 40% revenue surge. It plans to sell 2.4 million devices this year, up from 2 million in 2024, driven by rising trade-ins, premium smartphone demand, and increased EMI-based purchases. The company is also seeing strong traction in laptops, targeting ₹150–200 crore in sales this year and ₹350–400 crore next year.
While the unorganised sector has temporarily benefited from marketplace inactivity, industry leaders expect organised players to regain momentum over the next 3–6 months as independent strategies mature.
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