Venture capitalists were looking to hit pay-dirt with companies who know how to deal with mountains of used electronic gadgets.
It’s known as e-recycling: recycling and reselling older gadgets on the online market.
CCTV’s Jin Yingqiao reports.
Chinese companies hope to strike gold in e-recyclingVenture capitalists are looking looking to hit pay-dirt with companies who know how to deal with mountains of used electronic gadgets. It’s known as e-recycling: recycling and reselling older gadgets on the online market. CCTV's Jin Yingqiao reports.
With an online presence, companies like Aihuishou are strong players in the market of recycling and reselling electronic gadgets, like used iPads and iPhones.
Customers can place an order on its website, fill in the details, and a price will be quoted instantly – before the offline transaction even happens.
“We first started doing this in 2010, when the smartphone market started to take shape. We made a judgement: if mobile internet is to develop, smartphone usage would boom. And smartphones will need upgrading and replacement,” Chen Xuefeng, CEO of Aihuishou said.
Many companies have also jumped on the bandwagon. Smartphone maker Meizu has also partnered with the company Huishouwang in this new industry.
Basel Action Network’s Sarah Westervelt talks about e-recycling
For more on the trend in e-recycling, CCTV America’s Michelle Makori spoke to Sarah Westervelt, director of e-Stewardship Policy for environmental group Basel Action Network.