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More people are buying refurbished phones instead of new ones; would you get one too?

Published: Aug. 31, 2023, 3:30 a.m.

Sales of new smartphones have been declining for the past four quarters. On the other hand, sales of refurbished, or second-hand phones, have been rising for the past couple of years. This is reaching greater heights right now — companies such as Cashify have begun offering discounts, financing options, and at-home deliveries; essentially, a buying experience that’s at par with new phones. What does this mean for the balance of the overall market, and are we maturing further as an electronics-crazy nation? Tune in as we dissect this rather interesting segment of our economy!