• Reports Claim Foxconn is Purchasing Second Hand iPhones and Reselling Them in China

    According to Chinese news outlet Tencent, Foxconn is apparently purchasing 50,000 to 60,000 second hand Apple iPhones a day from different parts of the world and reselling them in the Chinese market. The report notes that majority of the devices are being sold in Hong Kong (approximately 80%). Just recently, China launched a new trade-in program and it was noted that Foxconn has been buying a lot up to refurbish and sell.

    Tencent noted that used iPhones are good to purchase because profit margins are high for second-hand Apple devices. But because of this, it was said that Foxconn wants to set something up that is more official involving the transactions. 50,000 to 60,000 iPhones a day is equivalent to approximately 21 million devices throughout the year. When Apple first released the iPhone 6 and 6 Plus devices, roughly 10 million units were sold just opening weekend.

    We can see why Apple CEO Tim Cook feels the Chinese market is a major one and will eventually take over the U.S. market. It is also more understandable now why Apple is expanding so quickly, by opening so many retail stores in such a short period of time.

    Source: DigiTimes
    This article was originally published in forum thread: Reports Claim Foxconn is Purchasing Second Hand iPhones and Reselling Them in China started by Akshay Masand View original post
    Comments 1 Comment
    1. NewD's Avatar
      NewD -
      Cook is no fool.. He's an even more savvy businessman than Jobs was. Jobs was a brilliant idea tech-head.. Cook is a savvy businessman. China is a crazy huge market. 1 billion of the world's 6 billion people live there.

      As to resale of iPhones. Wonderful little side business for anyone.. I remember when a friend of mine first told me about there being no subsidized pricing ($199/$299/$399) outside of the U.S. - that around the rest of the world - people have to buy at full retail ($649/$749/$849)... So the phone you paid $199 for, you can resell on eBay for $400? $500? And people around the world will consider that a STEAL! Of course you'll have "burnt" one of your upgrades to make that extra cash.. The better "best kept secret" (all of the ATT stores, Best Buys do this) is to give your friend $100 for his old iPhone 5.. Then sell it on eBay for a handsome profit..

      I remember slapping myself in the face when I first heard about this.. .. Nice little side business..
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