Soon, you may be able to exchange your old cellphone with a new one of your choice by paying less than 70% of its market price and with its warrantee intact. All you have to do is ignore a little dimple or scratch on your new branded purchase.
With the rupee falling to new lows against the US dollar, the cost of mobile phones, home appliances and other electronics is set to shoot up. To cash in on the rupee fall and trend of discounts, an organised market of refurbished factory seconds sellers is likely to emerge soon.
Delhi-based branded refurbished factory seconds seller, GreenDust, plans to offer an exchange discount, along with a fix discount of 30% on all product categories including mobile phones, home appliances, LEDs, laptops, printers. For Instance: One can exchange an old television with a branded refurbished LED. The price for the new LED will be its market price minus exchange value (of old television) minus discount of up to 30%.
A company run by 42-year-old AT Kearney and Microsoft veteran, Hitendra Chaturvedi, conceived the idea of selling factory seconds in 2008, the year when the global recession began. “This year, the sinking rupee has pushed up the cost of electronics but we found that aspirations to buy them are also mounting,” Chaturvedi said.
In the last three months, Chaturvedi’s firm has registered an over 50% growth in footfalls in its 170 franchise outlets. The company sells consumer electronics, home appliances, IT and mobile phones and its clientlist includes Lenovo, Samsung, Whirlpool, LG, Acer, Haier and Philips.
Gobol, another emerging seller in the organised market has also witnessed an over 50% month-on-month sales growth in the refurbished category. “Mobiles and laptops are the highest selling product categories,” the company spokesperson said.
Though eBay India also sells products in the refurbished category there are very few listings.