Bamboo Works Spotlights Potential for Smartphone Recycling in Expert Opinion from ATRenew Chairman Kerry Chen

China is leading the global movement for electronics recycling with a combination of policy initiatives and the rise of a new generation of professional recyclers

HONG KONG, April 18, 2024 /PRNewswire/ -- Kerry Xuefeng Chen, Chairman and CEO of ATRenew (RERE.US), a leading technology-driven pre-owned consumer electronic transactions and services platform in China, discusses the huge potential for recycling of smartphones, electronics and even luxury goods in a new "Expert Corner" opinion piece on Bamboo Works.

China, the world's largest smartphone market and ATRenew's home base, is leading the recycling charge through a confluence of factors, including government policy initiatives and the rise of platforms that can assure product quality.

Below are some key excerpts. To read the entire opinion, please go to: https://thebambooworks.com/perfect-storm-of-factors-fuels-rise-in-smartphone-recycling/

Kerry Xuefeng Chen, Chairman and CEO of ATRenew:

• "While the global market for new smartphones has been contracting for more than two years, the opposite is true for used products. Global new smartphone sales fell 3.2% last year to about 1.17 billion units, even as used smartphone sales actually rose nearly 10% for the year to 310 million units."
• "Both local and national governments are helping to drive the trend towards more smartphone recycling and trade-ins in China. … Most recently, China's State Council in March issued a notice on promoting mass-scale trade-ins of consumer products, demonstrating its determination to pursue a circular model of consumer goods use at a national level."

About ATRenew:

Headquartered in Shanghai, ATRenew Inc. operates a leading technology-driven pre-owned consumer electronics transactions and services platform in China under the brand ATRenew. Since its inception in 2011, ATRenew has been on a mission to give a second life to all idle goods, addressing the environmental impact of pre-owned consumer electronics by facilitating recycling and trade-in services, and distributing the devices to prolong their lifecycle.

ATRenew's open platform integrates C2B, B2B, and B2C capabilities to empower its online and offline services. Through its end-to-end coverage of the entire value chain and its proprietary inspection, grading, and pricing technologies, ATRenew sets the standard for China's pre-owned consumer electronics industry. ATRenew is a participant in the United Nations Global Compact, and adheres to its principles-based approach to responsible business.

About Bamboo Works:

Bamboo Works showcases Chinese companies listed in Hong Kong and the United States, with a strong focus on mid-cap and pre-IPO companies. We offer free and premium bilingual content through our website, newsletters, research notes, audio and video products. Such content also appears on major third-party financial news platforms in English and Chinese.