Cashify has released its annual whitepaper The Great Indian Upgrade 2025, offering a deep dive into India’s evolving second-hand smartphone market and consumer behaviour. Backed by a survey of 10,000 respondents, the report shows how resale, trade-ins, and refurbished devices are moving from the margins to the mainstream. Advertisement

The study highlights that 70% of Indians hoard 2–3 unused phones, creating what Cashify calls a “Drawer Economy” worth billions. 33% of users now sell old devices to fund upgrades, while 40% are motivated by competitive buyback offers. Despite this growing trend, 77% of resales still happen through informal channels, showing a need for trusted, transparent platforms.

Refurbished demand is shifting from budget devices under ₹10,000 to mid-range ₹15K–30K an

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