Apple lovers don’t mind buying second-hand phones as refurbished iPhones are selling like hot cakes

Not only brand new but refurbished iPhones are also flying off the shelves. Apple lovers are buying second-hand iPhones, which is giving fillip to the industry.

According to several refurbishers, sale of second-hand iPhones account for 40% sales.

Sellers say that iPhone 5 series - 5s and 5c -followed by iPhone 4, 4s and iPhone 6 are some of the most in-demand models.

"We sold nearly 1,00,000 units in 2015, a growth of over 40% from 2014," Hitendra Chaturvedi, founder of Greendust, told ET.

Greendust gives discounts of 50% to 75% from the original retail price.

Likewise, another refurbisher, Overcart saw 100% year on year sale of second-hand phones, albeit on a small base, making up 5% of its total sales.

As per reports, India's refurbished and unboxed mobile phone market has increased to $3 billion (Rs 20,000 crore) and is set to grow 25-30% in 2016.

Second-hand models of Samsung, Micromax, Lenovo and Asus also gain interest.