EASYCEP GIVES MOBILE PHONES A SECOND CHANCE
ISTANBUL, Oct. 24, 2022 /PRNewswire/ — EasyCep continues to expand as Turkey’s largest refurbished electronics market. The company, which has received a new investment, continues its activities in a working facility of 3 thousand square meters. The technician team of 360 people increased the monthly device renewal capacity to 150 thousand. The company is moving towards its target of 200,000 phone renewals in total by the end of the year. Next year, EasyCep’s goal is to expand to Eastern Europe, North Africa and Asia, where this kind of services does not exist.
The mobile phone market is one of Turkey’s largest importing goods and the market continues to grow. The company founded in 2018, introduced refurbished electronic devices to Turkish consumers for the first time. In four years, it succeeded in creating a new sector in electronic device market.
The average price of a smartphone in 2021 was 402 USD. EasyCep plans to renew 200 thousand phones this year. Thus, the company aims to keep 80 million dollars in the country. EasyCep is preparing to expand abroad in the medium and long term within the scope of its growth plans. By 2023, Turkish refurbished device market leader plans to take its first steps worldwide. The company, which is preparing to carry its business model abroad is planned to expand to Eastern Europe, North Africa and Asia in the first place.
Mehmet Akif Özdemir, CEO of EasyCep, “Especially the last two years have been very good for us. We begin 2022 with same pace and we continue to grow steadily. The amount of investment we get and our company value, reveal the growth potential of the refurbished electronic device industry in Turkey and in the world. We are the pioneers of a new section of the industry, especially in our country”.
Özdemir said, “Up to date, 90 percent of our sales have been mobile phones. If a phone is renewed in professional hands, it can be used for 4-5 years without any problems. We aspire to the phones waiting in the drawer. We want to renew these devices and bring them to the economy and nature. We also see that there has been a great interest in tablets, computers and game consoles lately. We also listen to the intends of our customers. Our product range is expanding in line with our growth targets. We have started to take important steps for this. A while ago we also added the category of small home appliances. The products, which are currently available on our website, will soon be available in all our physical stores. Refurbished electronics are not just about smartphones. Many electronic products can be used for many years by renewing them correctly. We are working to establish this awareness in consumers.”
11 million dollars investment in Series A investment round for EasyCep
EasyCep received an investment of 11 million dollars over a 100 million dollar valuation in the Series A investment round last March. A group of investors, including the venture capital investment fund Turkcell established with Re-Pie, invested a total of 11 million dollars in EasyCep. e-Pie Portfolio Management Inc. Turkcell New Technologies Venture Capital Investment Fund was established to support technology-oriented initiatives in different sectors. The first investment of the institution was in EasyCep. EasyCep is one of the most concrete examples of the circular economy as it renews electronic devices. That’s why, and the synergy to be created with Turkcell, also Turkcell’s sustainability goals are the determinant factors for the Turkish telecom giant to invest in EasyCep.
The production of a new phone causes 85 kg of carbon emissions in nature
It is essential that users sell their old phones to licensed refurbishment facilities rather than keeping them in a drawer. In this way, the renewal and continued use of phones is of great importance for sustainability and a better world. Researches show that only 5 percent of cell phones are recycled worldwide. Overall, it is estimated that only 16 percent of all electronic waste is recycled. About 1.4 billion new phones will be produced this year. According to the Electronic Products Research published by Twentify in September 2021, the rate of individuals using 3 or more phones in the last 10 years is 77 percent. The production and use of a new cell phone for a year, causes approximately 85 kilograms of carbon emissions. 95 percent of this occurs during production. The remaining 5 percent is spread over the average usage time of the phones, which varies between 2 and 5 years. It takes about 20 years for a tree to balance 85 kg of carbon emissions in nature. These results show that for nature, making a phone from scratch is much more harmful for nature than using it.
Consumers give their old phones to family members
According to a global consumer report published by independent research company Deloitte in 2019, 24 percent of consumers want to keep their phone as a backup. 31 percent say they will gift it to a relative or a friend.
The market size is expected to reach 1.5 billion dollars in 2025
EasyCep CO-founder Mehmet Akif Özdemir said, “The refurbished phone market in Turkey is still at the level of 20 million dollars. However the growth in the market continues. Today, in Türkiye, refurbished telephone market is not even 1% of the entire mobile phone market. However, we predict that it will reach 15 percent in 2025. This rate is 20 percent in Western Europe and North America. Therefore, we expect the size of the industry to reach 1.5 billion dollars. Renewing and re-economy devices such as computers, smart watches and robot vacuums is a valuable thing. Depending on the model, the price can differ between 20 – 50 percent for refurbished devices and brand new phones.”