By CNBCTV18.COMJan 28, 2022 10:47:48 PM IST (Published)
The secondhand smartphone market in the country is expected to double in three years to $4.6 billion by 2025, according to a joint report by mobile devices industry body ICEA and research firm IDC. Consumers traded 25 million smartphones in the secondhand market generating a revenue of over $2.3 billion, at an average price of $94 or Rs 6,900 per device, according to the report.
"India should be the global hub of re-manufacturing and re-commerce by leveraging its delta of labour cost. Re-commerce's profound growth will effectively reduce the digital divide by enabling migration from feature phones to smartphones. The growth of this market will also ensure that there will be a significant drop in e-waste as recycling will become the new norm," India Cellular and Electronics Association (ICEA) Chairman Pankaj Mohindroo said during the launch of the report.