The «M.Video-Eldorado» Group has announced the launch of a service for buying used smartphones from brands such as Apple, Samsung, and Honor. In the future, the retailer plans to extend this initiative to the household appliance market. Experts believe that this decision may be a reaction to the company's unsatisfactory financial results.
The buyback process includes checking documents and diagnosing the device for software errors. If everything is in order with the gadget, it is sent to a service center for repair and will then be sold as a «refurbished product». According to the company's estimates, the refurbished equipment market in Russia is 130 billion rubles.
Andrey Agapov, Head of Physical Services Department at «M.Video-Eldorado», noted that the refurbished equipment market demonstrates significant growth and high profitability. The group aims to take a leading position in this segment.
As a reminder, «M.Video-Eldorado» operates more than 1.2 thousand offline stores in 373 cities of Russia. In the first half of the year, the company reported a net loss of 8.5 billion rubles, which is 82% more compared to last year, with revenue of 202 billion rubles and a year-on-year growth of 13%. The increase in losses is associated with an increase in the key interest rate.
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