• Minte - News and Media
  • Rs 14,000 is Average selling price of smartphones

    Heavy demand for premium smartphones, driven by sharp discounting by brands during the ongoing ecommerce sales, are set to push average selling price of smartphones higher, market trackers said.

    The average selling price, which was expected to fall below Rs 11,000 due to the economic impact on consumers, has actually risen to Rs 14,000, analysts said. This is because, for the first time, the market has seen the widest portfolio of premium smartphones with sharp price drops, of up to 60% ..

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  • Flipkart says it delivered more than 10 million orders in first five sale days

    Walmart-owned ecommerce platform Flipkart said on Wednesday that it had delivered over 10 million orders in the first five days of its flagship Big Billion Days sale event, with broad-based growth across categories such as smartphones, fashion, large appliances, electronics, furniture and general merchandise.

    The company said the number of transacting sellers on its platform have grown by 1.5 times during this year’s sale period (October 15-21) compared to last year.

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  • India becomes fastest-growing second-hand smartphone market; Xiaomi, Apple, Samsung lead in market share

    Wanting to flaunt brands like Apple and Samsung, but not wanting to shell out the obscene sums associated with these brands, smartphone users opt for second-hand devices.

    India is the second-biggest market for smartphones, but thanks to brand-conscious Indians who are also price-conscious at the same time, India is the fastest-growing market for refurbished or used smartphones. Wanting to flaunt brands like Apple and Samsung, but not wanting to shell out the obscene sums associated with these brands, smartphone users opt for second-hand devices.

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  • Refurbished phones demand surges amid supply crunch for new devices

    An acute shortage of new smartphones in the market, exacerbated by stalled customs clearances of Chinese cargo, has caused a sharp uptick in demand for refurbished and pre-owned devices, said industry executives and experts.

    “We have been witnessing a sudden increase in demand for refurbished phones in the last two-three days,” said Nakul Kumar, chief operating officer of Cashify. “But fulfilment is becoming an issue since the supply is quickly drying up for us as well."

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  • Refurbished, pre-owned smartphones rack up numbers as incomes shrink

    The Covid-led disruption in the smartphone industry is opening up avenues for the refurbished and pre-owned devices category, which is seeing a demand shift from new devices due to dip in consumers’ disposable incomes.

    Omni-channel goods’ resellers such as OLX, Quikr, Cashify and Yaantra are witnessing a flow in demand towards the organised refurbished and pre-owned smartphone market in just over a week of easing of lockdown restrictions.

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  • India’s new rule on import of refurbished goods ends Apple’s long wait

    "India is a very important market in the long term," said Tim Cook during Apple’s Q2 2019 earnings call. "It’s a challenging market in the short term. But we’re learning a lot." Cook might have been referring to the four-year grind his company was put through in one of its most complex markets. His prayer to the Modi government in 2015 — allow the import and sale of refurbished iPhones in India — was ultimately answered in May 2019

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  • Cashify gets $12 million in Series-C

    Online used phones and electronics marketplace Cashify has raised about?82 crore ($12 million) from a clutch of Chinese investors. The Series-C round was led by CDH Investments and MorningSide Group, with Chinese recommerce firm AiHuiShou participating as a strategic investor. Existing investors including Bessemer Ventures and Shunwei Capital also took part.

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  • Opinion: India’s recommerce market can reach $4b in size, but is still untapped

    Author’s note: This article was co-written with Kavita Joshi, director of operations at Budli.in.

    I recently visited China with a startup delegation, and saw firsthand the evolution of the internet sector there. China’s reverse commerce or recommerce (used goods market), especially of electronic gadgets, was worth US$60 billion in 2016, bigger than the ride-sharing sector; some organized players is worth over half a billion dollars.

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  • Amazon’s US ReCommerce business holds a model for e-commerce players in India

    Amazon believes its ReCommerce programme extends the useful life of products and creates closed loop product cycles to lower the cost of returns and the impact on the planet.

    One of the biggest challenges e-commerce in India faces is returns. The industry average, in fact, is 25 percent - means extra cost in (reverse logistics) and lack of clarity in reconciliation for sellers.

    E-commerce big daddy Amazon has been working on a solution to this problem for the last few years and seems to have succeeded. Amazon says its “ReCommerce” initiative in the US is a key component in the profitability and success of e-commerce.

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  • The Reason Behind Shift In Trend Towards Recommerce Market In India !

    The advent of e-commerce in India has gifted the country with numerous success stories. We hear about entrepreneurs who struggled to pass College exams as they weren’t conversant with English, today leading Unicorn companies. We hear of women entrepreneurs who fulfilled the vision of their husbands by helming their companies into nation-wide phenomena when bad times befell the latter. We hear of e-commerce making lives of millions of homemakers easier by providing them on-demand services of house help, gardeners and carpenters.

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  • Profit from 'junk' : Re-commerce firm ReGlobe buys electronic products you no longer have use for

    Did you know, the mobile handset you stopped using a year back could fetch you a tidy sum. To find out how much, all you need is access to the Internet. ReGlobe, a re-commerce start-up, that made its Web debut in March 2013, pays you for parting with your old/used electronic gadgets.

    Sellers can calculate the worth of their gadgets by answering a few objective questions— model number, defects in the device, and its physical condition. Based on this information, the company arranges for the pick-up of the device and pays the seller in cash or via a bank transfer. The local professional buyers, who work with ReGlobe, refurbish these devices and then sell them in the second-hand market.

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