Replacing your smartphone? Flipkart is going to make it easy for you soon

Flipkart, which reportedly sells one out of five smartphones in India, fears that its business in smartphones and televisions will decline.

To allay these fears, Flipkart is coming up with an exchange policy with which it is expecting to ensure 20% of sales by the end of this year.

Flipkart expects its handset sales to hit 100 million devices this year.

According to chief business officer Ankit Nagori, the average cycle in India for replacing a phone is 18-24 months and as per Goldman Sachs, mobiles devices and fashion products emerged as the largest categories in India's online retail market, which is estimated to expand to $36 billion (about Rs 2.45 lakh crore) in 2016-17 from $11 billion in 2014-15.

Meanwhile, Flipkart is mulling to launch the exchange programme as 'Big Exchange Days' schemes.

It will sell the collected devices to the original manufacturers and second-hand mobile sellers.

Coming to TV sets, Flipkart will work with Jeeves Consumer Services.