An Italian company is looking to tap the Indian market in the refurbished smartphones space with brick and mortar stores.
Phoneup India, a 50:50 joint venture between Phoneup Italy and Francorp, will focus on pre-owned mobile phones and repair of smartphones through a retail chain, Phoneup Italy founder Gerardo Taglianetti told PTI.
"According to estimates, India has an unorganised market of 70 million refurbished smartphones. Further, the grey refurbished phone market is restricted to the big cities of the country. Phoneup India wants to tap this segment," Phoneup India head Sanjeev Arora said.
At present, several online e-commerce sites are active in the pre-owned phones segment, but there are no organised retail chains in this category, Arora said.
The company plans to set up about 100 stores in the next one year from the existing seven shops.
Arora said Phoneup pre-owned phones would carry a 12-month warranty.
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