Buying: smartphone terms explained

13 terms. Back to the full glossary.

MRP vs street price: MRP is the Maximum Retail Price printed or listed by the maker, which includes taxes. The street price is what shops and online stores actually charge. Phones are often sold below MRP and prices change frequently. Compare the final payable price across sellers on the same day. Related: Launch price vs effective price, Bank offers.
Launch price vs effective price: The launch price is the announced price. The effective price is what you pay after discounts, bank offers or exchange bonuses. Effective prices depend on your card, your exchange phone and the date. Compare like with like, and note if an offer needs a specific card. Related: Bank offers, Exchange offer, MRP vs street price.
Bank offers: Instant discounts or cashback available when paying with specific bank cards or EMI options. They are time-limited and card-specific, and may have minimum order values. Read the terms before counting them in the price. Related: Launch price vs effective price, EMI, No-cost EMI.
Exchange offer: A discount for trading in your old phone when buying a new one. The final value depends on the old phone's condition and may be lower than the quote after inspection. Remember to back up and sign out of accounts. Related: Launch price vs effective price, Refurbished and renewed phones.
EMI (equated monthly instalments): Paying for a phone in monthly instalments, usually with interest. Check the interest rate, processing fees and total amount payable, not just the monthly figure. Related: No-cost EMI, Bank offers.
No-cost EMI: An EMI plan where the interest charged is offset by a discount, so the total looks equal to the price. The discount you could have had by paying in full may be removed, so compare the cash price against the EMI total. Fees may still apply. Related: EMI, Bank offers.
Warranty: The maker's promise to repair or replace the phone for defects for a set period, commonly one year for the phone and shorter for box accessories. Warranty usually excludes physical and liquid damage. Keep the invoice. Check whether it covers India and the seller you buy from. Related: Service centres, GST invoice, Grey market phones.
Service centres: Authorised places that repair phones under warranty or for a fee. Network size varies by maker and city. If you live outside metros, check for a centre nearby, as repair turnaround affects ownership. Related: Warranty, Grey market phones.
GST invoice: A tax invoice from the seller showing the phone's IMEI and the GST charged. Keep it for warranty, resale and, for businesses, tax credit. A phone without a proper invoice can be hard to service. Related: Warranty, IMEI.
Refurbished and renewed phones: Used phones that have been tested and repaired and sold again, sometimes with a limited warranty. Ask who refurbished it, the warranty length, the battery health and whether parts are original. Check the IMEI before paying. Related: Battery health, IMEI, Grey market phones.
Grey market phones: Phones imported and sold outside the maker's official channels. They may lack Indian warranty, support for local 5G bands or official updates. Cheaper prices can hide these costs. Related: Warranty, IMEI, Service centres, 5G bands.
IMEI: A 15-digit number that identifies a phone, found by dialling *#06# or on the box. Dual SIM phones have two. Match it with the box and invoice. In India, you can check a phone's status through government portals for blocked or stolen devices. Related: GST invoice, Grey market phones, Refurbished and renewed phones.
Box contents: What comes with the phone: charger, cable, case, SIM tool and sometimes earphones. Many boxes now lack a charger or case. Factor in the cost of what is missing. Related: Charger in the box, Screen protector and pre-applied film.