India, Sept. 25 -- India's smartphone market is witnessing a seismic shift, one that has opened up a viable alternative to owning a premium device. Instead of buying new and paying the sticker price, Indians are increasingly considering pre-owned smartphones, which have been suitably refurbished or renewed, as an option for their next purchase.

Data supports that vision, and retail platforms are lining up to find prime positioning to cash in on this trend. Research by Redseer estimates India's used smartphone market will be worth $10 billion by the end of 2026. But as Mandeep Manocha, co-founder and chief executive officer of re-commerce platform Cashify points out, growth is still restricted by an "untapped drawer economy". One that has...