The funny thing is that the US firm barely has 2% of the market for new devices in that country. However, the brand has great appeal as a status symbol. Xiaomi is in first place, but could lose it very soon due to a decision by the Indian government.
Cashify is an Indian company that offers a platform for all those who want to sell or buy used electronic devices. One of its most important markets is that of mobile phones. The company has recently published a report on this sector. The results are mostly anecdotal for anyone outside of that country, but there are a couple of details that are worth noting.
The most important smartphones in the second-hand market in India are those of Apple and Xiaomi.
The presence of the Chinese company is not a big surprise, given that it produces high-end, mid-range and low-end devices. In India, Chinese companies have found a huge market for their cheaper products. However, the situation could change in the future.
Border conflicts and political crossroads have made the position of companies rather precarious. Recently the government has decided that it is appropriate to exclude Chinese firms from the market for cheap smartphones, thus favoring the development of local ones.
Apple’s position is surprising because the US company only has a 2% share of the new phone market. But it is the second in the used space.
The explanation is simple. The brand has great symbolic value. The majority of the population cannot afford the latest versions, but after a few years, the models become more affordable and are still just as desirable. Still the difference is noticeable.