Second-hand mobile phone company Flashback Technology ranks third in the industry: Why is it still difficult to achieve profitability despite annual sales of 1 billion?
Wallstreetcn·
- The China Circular Economy Association estimates that over 400 million old mobile phones are generated annually, with only about 5% entering professional recycling channels.
- Flashback Technology, a second-hand phone exchange service, has filed for an IPO for the third time, holding a 1.3% market share in 2024, but faces challenges due to low profitability and reliance on external financing.
- The company aims to enhance operational efficiency and expand its market presence, particularly in high-end products, while navigating intense competition and fluctuating procurement costs.