WORD FROM TORCH-BEARERS OF CIRCULAR ECONOMY

2022 unfolded as perfectly as a foldable phone. Keeping aside the shipment decline, the overall revenue of the 2nd largest market that is electronics didn't stutter. All because premium phones were a hit last year. Foldable phones, ultra-fast charging, rapid rollout of 5G and innovations in other aspects made 2022 enticing. Refurb also had a good year, especially at Cashify.

Mandeep Manocha Co-Founder & CEO, Cashify

With people accepting refurbished phones with open arms, we believe refurb is silently cementing its space in the market and in the hearts of the people. In our whitepaper, we give you a sneak peak of everything that's made 2022 the year it was.

Smartphones are the face of technology. Their innovative edge mirrors how technology reinvents itself and everything in its reach. 2022 was the year of AI, phones with cameras that were bigger, better and more balanced.

It’s a marvel that while a decade ago we had a separate gadget for clicking pictures and a separate one to make calls; today, there are certain phone models that give almost 100x zoom. Customer solutions remained a top priority of technology last year as well. The breakthrough of AI in the form of ChatGPT is an example of that. In this whitepaper of ours, we talk about all such interesting innovations and figures of 2022.

A new cycle of upgradation seems to be in the making. Usually, India’s smartphone market is led by a mixed sale of affordable and high-end phones. But, in 2022, a major chunk of population chose to move to high-end phones. With more & more premium phones getting sold, the Average Selling Price spiked, making people look for more affordable options.

As a result, while some people chose refurbished devices, some refrained from upgrading at all. People held onto their phones, causing a drop in demand. Perhaps sustainability is making its way through the rising ASP. In this annual whitepaper, we try to make sense of every change that 2022 brought along.

Siddhant Dhingra

2022 saw smartphone brands making remarkable strides in embracing the circular economy. Together with brands, we harnessed this momentum and took our trade-in offers to completely new levels by launching upgrader festivals with tech giants like Apple.

Trade-ins uphold untapped potential, allowing us to design irresistible propositions for our customers. Looking ahead, we are thrilled by the endless possibilities before us. Join us as we delve into our annual whitepaper — a reflection on the dynamic smartphone landscape of the past year.