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Apple has always been an aspirational brand for Indians and owning an iPhone continues to be a dream come true for many.
Maybe that is why, in the second-hand smartphone market, Apple's iPhones have the highest demand, as per a recent OLX study. Pre-owned iPhones cost less comparatively, making it easier for smartphone consumers to own the premium product without burning a hole in their pocket.
For example, the iPhone XS Max (64 GB, Silver), which is priced at Rs. 99,900 on Amazon, costs as low as Rs 52,000 on OLX. Similarly, Apple's latest launch, the iPhone 11 Pro Max, which is priced at Rs 1,09,900 on Amazon costs at least Rs. 10,000 less on the online second-hand buy and sell platform.
According to the study, in the race for pre-owned smartphones in India, Apple has left behind brands such as Samsung, Xiaomi, Vivo, Oppo and Oneplus. iPhone was the most listed in 2019 on OLX, with 19 per cent total listings. In terms of demand too, the Cupertino electronics giant’s smartphones had the highest share (19 per cent).
The study also stated that iPhone 5S and iPhone SE continues to be in heavy demand across small towns and rural areas, despite the models being discontinued by Apple in 2016 and 2018 respectively.
Over 9 million smartphone listings were analysed by OLX on its platform, according to the study.
OLX is a customer to customer (C2C) digital marketplace for pre-owned cars, motorbikes, mobile phones, household items, etc.
The market for pre-owned smartphones has been growing at a rapid pace, with almost 59 per cent of all smartphones listed on OLX in the Q1-Q3 2019 period being sold, said the study. This gives consumers more options to choose from, across different price ranges.
“Despite the prevailing sentiment in the Indian economy, the appetite for premium smartphones and overall demand for pre-owned smartphones has not diminished,” said Nitin Chaudhury, Head of Commercial, OLX India. Users are becoming upwardly-mobile in their aspirations, which is reflected in the rising demand for premium brands, led by Apple’s iPhone, he added.
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