EasyCep Gives Mobile Phones a Second Chance
EasyCep is Turkey's largest refurbished electronic product market, specializing in buying and renewing technological products such as mobile phones, tablets, and laptops. These renewed and repaired electronic products, which undergo cosmetic and technical improvements, are then offered for sale on EasyCep's website and physical stores. The company operates under a license issued by the Ministry of Trade and places a strong emphasis on customer satisfaction by providing affordable prices and solution-oriented approaches.
With a new investment, EasyCep has expanded its operations in a 4,000 square meter facility and increased its monthly device renewal capacity to 150,000. The company aims to renew a total of 200,000 phones by the end of the year and plans to expand to Eastern Europe, North Africa, and Asia in the following year, where this type of service is not yet available.
The mobile phone market is one of Turkey's largest imported goods, and EasyCep, founded in 2018, introduced refurbished electronic devices to Turkish consumers for the first time. In just five years, the company has successfully created a new sector within the electronic device market.
In 2022, the average price of a smartphone was $472. EasyCep plans to renew 200,000 phones this year and has medium- and long-term plans to expand internationally. By 2023, the company aims to take its first steps worldwide, with a focus on expanding to Eastern Europe, North Africa, and Asia.
Mehmet Akif Özdemir, the CEO of EasyCep, expresses confidence in the growth potential of the refurbished electronic device industry in Turkey and globally. Currently, 90 percent of their sales come from mobile phones, and they believe that properly renewed phones can be used for 4-5 years without any issues. They aim to renew devices that are left unused and contribute to both the economy and the environment. EasyCep has also observed a growing interest in tablets, computers, and game consoles, and they are expanding their product range accordingly.
In March 2022, EasyCep secured an $11 million investment in a Series A funding round, valuing the company at $100 million. This investment was led by a group of investors, including the venture capital investment fund Turkcell, which was established in partnership with Re-Pie. Turkcell's investment in EasyCep is driven by the company's focus on sustainability and their shared goal of promoting the circular economy through the renewal of electronic devices.
According to a global consumer report by Deloitte in 2019, 24 percent of consumers keep their old phones as backups, and 31 percent gift them to relatives or friends. EasyCep predicts that the refurbished phone market in Turkey will reach 15 percent of the entire mobile phone market by 2025, amounting to $1.5 billion. In Western Europe and North America, this figure is already around 20 percent. Refurbished devices offer price savings of 20 to 50 percent compared to brand new phones, depending on the model.
Overall, EasyCep has emerged as a leader in the Turkish refurbished electronic device market, with plans for international expansion and a strong commitment to sustainability and customer satisfaction.