Yaantra in smartphone repairs and refurbishment category who had launched its new smartphone App in June 2019. “PhoneCash” is India’s first app-based platform for consumers to sell, upgrade and exchange their smartphones. The platform brings consumers, OEMs, retailers, and financial institutions under one roof to build seamless eco-system.
- The PhoneCash app has made selling and exchange of smartphones easier and convenient for the consumers, by providing a service at their doorstep.
- Powered by AI and machine learning, this app automatically diagnoses hardware attributes, offers the consumers to do a self-evaluation of the physical attributes and evaluate the best value of their smartphone and provides multiple options like selling it for cash or upgrade to the latest refurbished or pre-owned smartphone offerings by Yaantra.
- Once a smartphone is sold, Yaantra ensures a data swipe assurance giving peace of mind to customers about no personal data retrieval after the device is sold
PhoneCash automatically runs an auto-diagnosis engine which tests a smartphone’s Wifi, Bluetooth, GPS, Network, camera, flashlight, battery, touch, speaker, charging, face ID, fingerprint, volume button and others followed by self-evaluation of physical attributes of the phone through a questionnaire. Basis of the derived health score, the algorithm-based price engine discovers the best value for an old device and also offers customized upgrade options to the customers.
To know more about the company service, working, strategies and upcoming plans, we had an email interaction with one of their representatives and here is what we got to know…
Our vision is to make smartphones affordable for all, empowering our customers to embrace the digital revolution that our country is experiencing. Taking this thinking forward, we launched the PhoneCash app which will transform the way consumers buy and sell smartphones. Powered by Artificial Intelligence and Machine learning, the app is designed to create an eco-system integrating consumers, retailers, OEMs and financial institutions offering instant cash or upgrades/exchange offer right at the consumer’s doorstep.
Customers have realized that getting a good price for used smartphones is increasingly becoming a challenge. Our idea is to give customers a platform to stay ahead of the technology curve by encouraging them to exchange their smartphones for the best bargain and helping them upgrade at an affordable price. And we believe that PhoneCash is poised to disrupt the smartphone industry in the country.
All the services provided by Phonecash is absolutely free for consumers, they can download the app free from Android and iOS.
PhoneCash is an app powered by AI and Machine Learning. The app automatically runs an auto diagnosis engine which tests a smartphone’s Wifi, Bluetooth, GPS, Network, camera, flashlight, battery, touch, speaker, charging, face ID, fingerprint, volume button and others followed by self-evaluation of physical attributes of the phone through a questionnaire.
Basis of the derived health score, the algorithm-based price engine discovers the best value for the old device and also offers customized upgrade options to the customers. The primary version of the app will enable consumers to sell or upgrade smartphones and going forward PhoneCash will connect customers to the nearest retail and online stores to sell and buy smartphones.
Once a customer schedules a pick up through our app, our executive conducts an on-ground diagnosis to recheck all the aspects of the device. And in case if any new physical or hardware issue is found, the cost of the device reduces.
We have our presence across 10 cities with self-operating offices and 600+ cities and towns covering 14000+ pin codes. We have tied up with 35,000 retailers across the country which helps us to connect with our customers in Tier 1, 2 and 3 markets.
As per industry reports, the Indian market is likely to grow by 27% in the coming few years with the market size expected to reach $10 billion by 2022.
Refurbished smartphones have a great scope in Indian market considering the affordability factor, which customers keep in mind while buying a smartphone and high aspirations of consumers with an increase in purchasing power. Customers in India buy refurbished smartphones of established brands ranging from INR 4,000 to INR 35,000 through Yaantra.
We have a wider range of refurbished smartphones across all brands on our website. The quality of the devices is complimented by our ISO certified facility. Apart from the Yaantra website, we do sell refurbished smartphones through Amazon and Flipkart.
We have grown remarkably fastest with a YoY growth of over 250% in a short span of five years. We started with INR 6 crores in our first fiscal and are on the verge to close this fiscal at INR 200 crores. As a start-up, we have break-even this year registering a positive PAT score; which is a prominent achievement for a small business start-up.
We have dominated the sector in India through an organized, planned and futuristic approach using a sustainable business model with extremely profitable results. We have steered the successful transformation of the entire social perception towards ‘refurbished’ smartphones.
* Only ISO certified State-of-art in house repair & refurbish facilities, doorstep pickup and delivery services for customer’s convenience
* Team of 400+ certified technicians; 36-point quality checks; service 70,000 units per month
* Self-owned centres in six cities; over 10 Lac+ customers served; with a workforce of 1000+ employees; reach across 600+ Indian towns and cities covering 14000+ Pin codes
* 35,000+ registered retailers on-board across India; 10,000+ active on a proprietary platform; 1200+ new partners get on-board every month
Receives 1,500+ orders every day and has sold over 7 lac+ smartphones so far.
Most important of all, the sudden rise in demand for smartphones and simultaneously the drastic increase in ‘e-waste’ have to be fulfilled & resolved. We follow unique and effective solutions in addition to the unmatched hassle-free services, has been phenomenal in fulfilling these needs of the hour helping reduce the generation of e-waste.
Apart from repairing, refurbishing and reselling of smartphone devices, we also sell accessories and wearables on our platform. We have plans to bring laptops in the coming few months.