Brands
Apple price hikes may push Indian buyers towards refurbished iPhones
Retailers expect older-stock rush as refurbished demand gains momentum during festive season
MUMBAI: Apple has raised the price bar, and Indian shoppers may respond by looking a little further down the iPhone shelf. The latest price increases could send festive-season buyers towards older models before pre-hike inventory runs out, while giving the refurbished smartphone market another push.
Retailers told Moneycontrol that consumers are likely to gravitate towards older iPhones while units carrying pre-increase prices remain in stores. Those unwilling to absorb the revised prices could instead opt for refurbished or pre-owned devices, potentially strengthening Apple’s already commanding position in India’s resale market.
Data from Cashify, cited by Moneycontrol, shows Apple accounted for 65.3 per cent of refurbished smartphone sales on its platform in 2025 and 32.6 per cent of total smartphone buybacks.
The iPhone 13 was the platform’s most purchased refurbished smartphone as well as its most traded-in model. It represented 15.5 per cent of refurbished demand and 6.93 per cent of smartphone buybacks during the year.
The latest price changes range between 20 per cent and 45 per cent, depending on the model. IDC senior analyst Upasna Joshi told Moneycontrol that the scale of the increase was wider than expected, stretching across Apple’s portfolio from the iPhone 17e to the Pro Max range.
That creates a wider price gap just as festive shoppers typically start hunting for discounts, cashback and financing deals. With no indication yet of similarly aggressive offers, refurbished iPhones could become a more attractive middle ground for buyers who want into Apple’s ecosystem without paying the new premium.
The lineup also lacks the iPhone 17 Pro and Pro Max, narrowing the choices for consumers shopping at the higher end.
The resale equation could change too. Counterpoint Research director Tarun Pathak expects refurbished iPhone sales to grow faster than previously anticipated as existing owners trade in their devices to fund upgrades.
Cashify expects buybacks to rise in the first month after the launch and gather further pace over the following 60 to 90 days as upgrades and festive purchases pick up. The iPhone 15 and iPhone 16 are expected to contribute the biggest increase in used-device supply, although the iPhone 13 and iPhone 14 could remain important because of their larger installed bases.
More supply, however, does not automatically mean a refurbished-price crash. Cashify expects prices of outgoing models to ease gradually if demand rises alongside inventory. The eventual price will depend on the model, storage capacity, condition, buyback volumes and the pricing of equivalent new iPhones.
The Rs 20,000 to Rs 45,000 segment is expected to remain the heart of the refurbished market, with the iPhone 14 and iPhone 15 tipped to emerge as key models over the next two to three quarters.
For Apple, the price reset could therefore change how consumers enter and move around its ecosystem rather than simply push them out of it. IDC expects Apple’s overall shipments in India to decline in single digits this year from 14.3 million units in 2025.
Joshi said higher prices do not necessarily mean consumers will abandon the brand. Existing owners can trade in their current iPhones to soften the cost of an upgrade, while new or budget-conscious buyers can enter the ecosystem through refurbished devices.
Retailers expect the difference to become particularly visible during the festive season. Physical stores and online platforms could see footfalls rise five to seven times as shoppers try to snap up older inventory at pre-hike prices.
Once that stock dries up, the attention could shift more firmly to refurbished and pre-owned devices — and even to repairs and servicing, as consumers keep older phones running for longer.
All India Mobile Retailers Association founder and chairman Kailash Lakhyani also flagged another consequence of the widening price gap. The significant difference between Indian and overseas prices for premium products such as the iPhone Duo, he said, could encourage grey-market activity and smuggling.
For Apple, then, the festive-season battle may not simply be about selling the newest iPhone. It could also be about how effectively the brand’s older phones, trade-ins and refurbished devices absorb consumers facing a much steeper price tag.
