Companies prefer refurbished electronics over new ones due to price advantages and warranties on them.
A founder has bought refurbished computers and laptops for his employees instead of new or used laptops. He claims that new devices are more expensive, and used devices are mostly defective. As a result of this, his company saves 30 percent on expenses.
Demand for refurbished laptops have increased by 50 percent, according to Dhaval Pambhar, a refurbished electronics merchant in Bengaluru. He said that previously, only refurbished cellphones were in demand. “However, the lockdown and work-from-home culture has led small business owners to buy reconditioned equipment rather than new or used ones,” he added.
“The company has bought refurbished equipment for their interns,” according to a human resources manager at an advertising agency. He explained that buying new computers is challenging for them because they hire interns every year. They do, however, provide brand new laptops to the company’s executive team.
Asish Chakraborty, HyperXchange’s co-founder, stated in an official blog that the range of refurbished electronics goods is preferable over new ones as people are still struggling financially due to the pandemic. HyperXchange is a platform for selling refurbished devices.
Transparency Market Research report states that the sale of refurbished electronic items has increased over the years. The expansion of the refurbished electronics business is being driven by an increase in e-waste disposal and a desire to buy affordable electronic items.
The expanding sale of refurbished products has attracted e-commerce companies. Flipkart bought Yaantra, a refurbished electronics store, in January. Globally, more electronic companies are luring clients to use low-cost used equipment by offering discounts and product warranties.
Governments in developing countries such as India are also attempting to attract multinational IT and electronics firms. As a result, the refurbished electronics industry is growing due to price advantages and warranties on used electronic goods.