More and more, people are coming to trust used mobile phones as affordable and reliable alternatives to the pricey brand-new versions. Used iPhones have reached a new pinnacle in terms of popularity, and consumers recycle the devices by the tens of thousands each and every day. These figures promise only to continue rising, the market exceeding $48 million USD in value for the fiscal year 2017. This is a self-perpetuating cycle, excellent news for used mobile phone wholesale customers, because as people report more positive experiences purchasing used mobile phones, word-of-mouth will lead to even wider acceptance for the practice.
As a business person, of course, you see the potential here. You recognize that you can turn a profit purchasing lots of used iPhones and reselling the devices on eBay and other similar platforms. On eBay in the United States along, these sales generated more than $2 billion in revenue. $2 billion! When we talk about used mobile device sales, we are talking about big industry, and as a distributor, you are operating in an arena that has the potential to grow tremendously in coming years.
Think about it like this. The next time you are out and about somewhere, try to see if you can figure out the most popular models of mobile phones, the models that the most people are using. Unless you are in a particularly high-end area, you will notice that people tend to hold on to their devices, trying to make their devices last. Is it any wonder why? These things cost a lot of money! Thus, it is reasonable to conclude that people do not mind owning old models of phones – they don’t mind owning second-hand models either, so long as the price is right. For the right price, people will walk around with less-than-fashionable phones, phones that other people have already passed up on, phones that are not on the front pages of catalogs anymore.
Foxconn, a company that specializes in manufacturing Apple products, has spun off an entire business dedicated to recycling iPhones. Insurance companies buy up a fifth of these devices in order to provide extended warranties to their customers in the US, and the remainder show up in auction houses throughout Hong Kong and Kwun Tong. Wholesale, e-commerce, repair, retail: these used devices are a gold mine if you can come up with a strategy for buying low and selling high!