Electronics reseller sets target of processing 2,000 recycled handsets per week
Electronics reseller E-Giant has set out ambitious plans to take on the UK handset recycling market after being backed by a £2.5 million investment.
The Bournemouth-based company, which has been involved in gadget recycling since 2012, went live with the ‘webuyanyphone.com’ website earlier this month and claims it will never be beaten on price.
Director James Ashby (pictured) told Mobile News the firm is attempting to gain a slice of a UK market which is forecast to grow from eight million handsets recycled this year, to 16 million in three years time, according to analysts Technavio.
He has already set the ambitious target of processing 2,000 handsets per week with an estimated £10 million turnover within 12-18 months.
“It’s an industry that’s grown every year for the past five years and in every industry and sector there are two or three guys competing,” he told Mobile News. “Whether it’s banking or Premier League football, there’s always two or three guys knocking on everybody’s door and this industry shouldn’t be any different.”
The company has recently received an initial £500,000 investment from the owner of an established telecom B2B reseller, to get the business off the ground in the first six months of the year. It will receive a further £2 million for an advertising blitz in the second half of 2015. It will test campaigns across TV, online, social media and print to see what works best for its target market.
Ashby said will be the “most transparent” recycling firm on the market with just three pricing structures offered: New, working and non-working. No other grading of handsets will take place that could see the price changed in its processing centre
He also made the claim that E-Giant will pay more than any other brand, “even if it’s just 50p” and its 12-strong team in Southampton will be processing payment runs every hour in an attempt to be the fastest payer on the market.
“I don’t believe it’s is the bread and butter of the people who own businesses like Envirofone (Redeem).
“There’s so many things that they do and do very well but this would be our only focus. It’s an opportunity to do it slightly differently and better than everyone else.”