Published in Mobiles

Foxconn wants to get into second-hand phone biz

by on03 December 2015


One owner, old lady used it to SMS her grandson


Foxconn is piling cash into the second-hand smartphone market as part of its efforts to promote environmental protection globally.

The move is apparently part of Foxconn’s bid to save the planet. A subsidiary of the Foxconn recently acquired a 20 per cent stake of Bamboo Distribution, a UK-based mobile phone recovery, refurbishment and distribution specialist.

Foxconn thinks there is money to be made in the handset recycling business as it can use its smartphone manufacturing capability and the supply of various parts and components.

The investment allows Foxconn to step into the mobile phone recovery and recycling market in Europe and to open new revenue channels, said the sources.

Foxconn has been involved in the second-hand market in the US since last year, when FIH Mobile, a smartphone ODM of the group, acquired a 30 per cent stake in CExchange, a US-based provider of consumer electronics trade-in, buy-back and recycling services.

Foxconn set up a Chinese subsidiary in mid-2015 to engage in trade-in business for smartphones, using the group's e-commerce platforms. Through the online platforms, the subsidiary offers recovery, examination, recycling and reselling services for smartphones.

It has signed a deal with Brightstar, a Japanese subsidiary of Softbank, to jointly develop handset recovery and distribution businesses.

Last modified on 03 December 2015
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