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The founders of ReFit Global presented their startup on Shark Tank India. Here are the full details about their products and price & more.

ControlZ estimates the market value for refurbished smartphones to be close to $4 billion in India this year although the market remains highly unorganised.

Smartphone Sales: ReFit Global and Cashify are among the sellers of refurbished phones and devices that are also expecting a sharp increase in top line during the festive season - set to start next month - on the back of burgeoning demand for high-end smartphones.

The market for refurbished smartphones and electronic devices in India is expected to see 18% year-on-year revenue growth during the upcoming festive season, surpassing the growth of new phones, which is predicted to be around 7%. Refit Global and Cashify, sellers of refurbished phones and devices, anticipate a significant increase in revenue during the festive season. Cashify plans to aggressively promote its products during Diwali and aims to double its revenue from last year.

Refit Global: Samsung, Xiaomi, Oppo and Vivo contribute to more than 65% of ReFit’s total sales. By contrast, the consumer demand beyond tier-1 cities has been increasingly trending towards premium brands like Apple and OnePlus which also have a relatively higher average selling price (ASP) for ReFit, said the executive.