WEBVTT 00:00:00.320 --> 00:00:01.040 Joe, welcome. 00:00:01.040 --> 00:00:05.040 How do you see the refurbished phone market evolve globally? 00:00:05.600 --> 00:00:07.880 Yeah, we project the market to be about $250 00:00:07.880 --> 00:00:12.680 billion market over the next five years, with a 10% annual growth rate. 00:00:13.680 --> 00:00:16.280 One in six devices today is refurbished. 00:00:16.280 --> 00:00:20.080 So we've got, you know, headroom to grow the market as they 00:00:20.080 --> 00:00:21.360 become more popular. 00:00:21.360 --> 00:00:23.840 At the end of the day, it's getting the right device in the 00:00:23.840 --> 00:00:25.840 hands of the right consumer at the right price. 00:00:26.240 --> 00:00:30.800 Everyone needs connectivity today, and everyone is interested in a solid 00:00:30.800 --> 00:00:33.440 device that they can trust in their hands. 00:00:33.760 --> 00:00:35.560 Why do you see it growing so much? 00:00:35.600 --> 00:00:39.840 And I suppose in which markets do you think there's the biggest room for growth? 00:00:40.160 --> 00:00:42.640 There's the sustainability angle in a number of markets, 00:00:42.640 --> 00:00:44.120 especially here in Europe, right? 00:00:44.120 --> 00:00:48.840 And there's right-to-repair and sustainability goals announced by a 00:00:48.840 --> 00:00:50.040 number of telcos. 00:00:50.360 --> 00:00:53.000 So everyone is kind of pushing to achieve those goals. 00:00:53.400 --> 00:00:57.920 At the other end of the spectrum, there is general innovation flatness 00:00:57.920 --> 00:01:01.600 where the functionality of devices have plateaued a bit. 00:01:01.960 --> 00:01:05.160 And accepting the recent developments in AI, 00:01:05.160 --> 00:01:11.160 there's good price performance as prices have, you know, escalated for new devices. 00:01:11.400 --> 00:01:14.360 So at the end of the day, we can segment the market, 00:01:14.360 --> 00:01:19.760 and consumers around the world can have the right device at the right price in their hands. 00:01:19.760 --> 00:01:24.120 So how can retailers and telcos then take advantage of this growing market? 00:01:24.280 --> 00:01:25.040 Yeah, it's a great question. 00:01:25.040 --> 00:01:29.760 So it's a highly unorganized or unstructured market. 00:01:30.680 --> 00:01:32.400 There's still some gray market out there. 00:01:32.400 --> 00:01:37.120 So telcos and retailers have the opportunity to shape the market with a 00:01:37.120 --> 00:01:41.760 few key players to add further legitimacy to the overall marketplace. 00:01:42.000 --> 00:01:44.640 So they can do a few things to shape the market. 00:01:44.840 --> 00:01:49.360 One, reliable trade-ins, transparency, customer experience. Two, 00:01:49.360 --> 00:01:53.560 they can continue to ramp up the quality, offer warranties, 00:01:53.560 --> 00:01:58.120 and develop trusted brands around the products they're offering. 00:01:58.640 --> 00:02:01.720 And third, continue to push the sustainable angle 00:02:01.720 --> 00:02:03.760 where you know it is still cool-- 00:02:03.760 --> 00:02:06.760 it's cool in some geographies to have a refurbished device, 00:02:06.760 --> 00:02:09.800 and you can continue to push that from a brand perspective. 00:02:09.800 --> 00:02:12.160 And acknowledge that refurb devices are ... 00:02:12.160 --> 00:02:16.920 they have their rightful place among the new device portfolio toward telcos. 00:02:16.920 --> 00:02:21.200 Spell it out for me, that sustainability benefit compared to a new phone. 00:02:21.200 --> 00:02:22.640 What are we, what are we looking at here? 00:02:22.640 --> 00:02:25.000 Yeah, so about a 90% reduction in carbon 00:02:25.000 --> 00:02:27.480 footprint compared to a new device, right. 00:02:27.560 --> 00:02:33.440 The the refurb devices consume 80% to 85% less materials, water, plastics, 00:02:33.440 --> 00:02:36.160 et cetera when we do reprocessing. 00:02:36.440 --> 00:02:40.680 So that's a meaningful reduction when you're talking about a telco or a 00:02:40.680 --> 00:02:43.760 retailer that has carbon footprint reduction goals, 00:02:43.760 --> 00:02:46.040 and it's also meaningful to consumers. 00:02:46.400 --> 00:02:47.520 Joe, what a pleasure. 00:02:47.520 --> 00:02:48.360 Thank you so much. 00:02:48.520 --> 00:02:48.920 Thank you.