A refurbished phone could be availed at a price 40 to 60 percent less than that of a brand new phone.
Mobile phones are the most advanced wireless mean for communication- well, not anymore. It is much more than that. It is a style statement, a signature of your personality, and an aspiration. Yes, we can additionally use it for communication. With rising aspiration for high-end mobile phones, youngsters often look to buy something which is slightly beyond their budget. Between a super expensive brand new, and a tricky second-hand device, there is a ray of hope- a refurbished phone. A refurbished phone could be availed at a price of 40 to 60 per cent less than that of a brand new phone, depending on the condition and life cycle.
A refurbished mobile phone goes through cleaning, wiping, and a rigorous quality check, by the refurbishing companies. All the damages or defects are duly addressed by the experts before resale. The phones are graded based on their quality and life expectancy. Hence, the buyer has an assurance about the quality and does not have to gamble. There could also be an additional warranty by the seller, to ensure icing on the cake helps them instilling great confidence. This saves the buyer from the risk of getting cheated, ignorance, or lack of knowledge when they buy a second had product from the grey market. At the same time, it has the potential to completely transform the offline grey market and make it organised and dependable. Last but not least, the lowest graded phones could be sent to e-waste management facilities.
Considering the growing preference for refurbished phones among youngsters, experts and analysts believe that the market for refurbished phones in India will rise by a compounded 27% over 2019 and 2020. This will be structured on a healthy mix of online and offline channels. Online channels allow the sellers to access a Pan-India market with just a few clicks. Similarly, the buyers can look for lucrative bargains and be assured about the quality of the products they purchase. To make the deal more secured for buyers, there could also be a policy to return the faulty items within a specified time period for a refund. The integrated logistics capability by the refurbishing companies makes the job much easier for buyers and sellers. Therefore, it is a win-win situation for both the parties. On the other hand, offline channels enable buyers and sellers to have a face to face interaction with the company that is refurbishing the phone. They can not only buy/sell their phone but also get valuable advice and end-to-end support about their decision.
As the market matures, companies selling refurbished phones will also look for providing repair as a value-added service. Under this, the customers can get their faulty phones picked from home, receive a standby phone for the duration of repair, and get their repaired phone back at their doorstep. In all, the stage is all set for a refurbished phone market. Buyers can be sure of many exciting deals in the coming year. It is just a matter of time before the sale of high end refurbished phones in India surpasses those of brand new devices.
--Mr. Soumitra Gupta, CEO, Togofogo
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