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Refurbished phones demand surges amid supply crunch for new devices


NEW DELHI: An acute scarcity of latest smartphones out there, exacerbated by stalled customs clearances of Chinese cargo, has prompted a pointy uptick in demand for refurbished and pre-owned units, mentioned trade executives and consultants.

“We have been witnessing a sudden increase in demand for refurbished phones in the last two-three days,” mentioned Nakul Kumar, chief working officer of Cashify. “But fulfilment is changing into a problem for the reason that provide is shortly drying up for us as properly.”

Kumar mentioned there was a decreased circulate of outdated units for reselling out there as a result of customers had been taking longer to improve their telephones.

Omni-channel reseller Yaantra, which sources elements instantly from China to refurbish outdated units, mentioned it was fortunate to have a listing to fulfil the requirement for 45-60 days.

Yaantra, Cashify, Olx and Xtracover had been witnessing a surge in demand in any case since ‘unlock 1.0’ was initiated, primarily due to provide shortages of latest units as factories had been going through a manpower crunch.

“In the month gone by, we have sold two times the smartphones compared to what we sold in pre-Covid days, especially in the Rs 5,000-15,000 category,” mentioned Yaantra CEO Jayant Jha.

Buy-and-sell market Olx has seen demand bounce again to pre-Covid days for the reason that starting of this month. “On the demand side, there has been a 40% growth in buyers who are looking to buy pre-owned smartphones. On the supply side, we witnessed a 71% growth in listings in June versus May,” mentioned Tarun Sinha, India head-horizontal enterprise unit, Olx.

The Aforeserve Group, which owns re-commerce market Xtracover.com, has seen a 3.5 instances surge in demand in June in comparison with that within the pre-Covid months, mentioned its CEO Soumitro Gupta. “If the trajectory continues to grow this way, we are expecting to do a business growth of 2.5 times by the end of this year,” he mentioned.

According to Gupta, logistics and distribution are a much bigger downside than provide of outdated units.

The customs division initiated 100% bodily verification of all shipments coming from China at ports and airports on Monday final week, resulting in delays within the launch of cargo.

Major smartphone manufacturers similar to Xiaomi, Vivo, Oppo, Realme and OnePlus, which supply elements and units from China, are observing zero stock in warehouses and disruption in manufacturing, which was already operating at 40% capability, mentioned trade consultants.

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