Tencent’s Secondhand Marketplace Zhuanzhuan Teams Up with Foxconn to Trade Used iPhones

Tencent’s Secondhand Marketplace Zhuanzhuan Teams Up with Foxconn to Trade Used iPhones

Zhao Chenting

Date: Tue, 09/12/2017 - 11:09 / source:Yicai
Tencent’s Secondhand Marketplace Zhuanzhuan Teams Up with Foxconn to Trade Used iPhones
Tencent’s Secondhand Marketplace Zhuanzhuan Teams Up with Foxconn to Trade Used iPhones

(Yicai Global) Sep. 12 -- Zhuanzhuan, a trading platform for second hand goods backed by Chinese internet giant Tencent Holdings Ltd. [HKG:0700], has agreed a deal with Taiwan-based Foxconn Technology Group [TSE:2317], the world's largest electronics contract manufacturer, to cooperate on the trade of used iPhones.

The move comes one day ahead of the launch of Apple Inc.’s [NASDAQ:AAPL] new flagship handset.

The two companies will  use the platform to carry out quality inspection systems for used phones in line with Apple's official standards and to undertake standardized testing via mail, supervision and guidance.

iPhones, recycled at Apple’s brick-and-mortar stores, will go on sale on Zhuanzhuan once they have passed Foxconn’s inspections.

Used mobile phone trading made up 31 percent of the platform’s total transactions in August, a 316 percent surge annually, said Huang Wei, Zhuanzhuan’s chief executive. Some 2.1 million phones were sold on the site in the second quarter of this year.

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Keywords: TENCENT, FOXCONN, Zhuanzhuan, Second-Hand Market, E-COMMERCE, C2C