Investment in Nordic Mobile Trust Oy, Finland
Reusing Secondhand Smartphones on C2C Platform
Apr. 14. 2022
Marubeni Corporation (hereinafter, “Marubeni”) has invested in Nordic Mobile Trust Oy (hereinafter, “NMT”), based in the Republic of Finland, which has developed a C2C*1 platform that allows consumers to buy and sell used smartphones to expand its business.
NMT has developed and now operates a C2C platform that allows consumers to easily buy and sell used smartphones through AI-based market value calculation and automatic device recognition. There are many concerns when buying and selling used smartphones between individuals, such as the quality of the device and complicated transaction procedures. By utilizing NMT’s original digital technology, NMT plans to solve these issues and develop services globally in the future.
The market of used smartphones is expanding rapidly against the backdrop of growing interest in the circular economy. The worldwide shipment of used smartphones is expected to increase from approximately 220 million units in 2020 to approximately 350 million units in 2024*2. In addition, reusing smartphones will lead to a reduction in the production of new devices, which will reduce greenhouse gases and be more environmentally friendly.
Marubeni and Mobile Care Technologies Co., Ltd., a subsidiary of the Marubeni Group, have been developing a smartphone reuse business. Through this investment, Marubeni intends to newly develop a C2C market for used smartphones together with NMT both in and outside of Japan and contribute to the development of the circular economy.
(*1) Abbreviation for Consumer to Consumer, a form of transaction between general consumers
(*2) Source: Worldwide Used Smartphone Forecast, 2020-2024, IDC
|Company Name||:||Nordic Mobile Trust Oy.|
|Headquarters||:||Republic of Finland|
|Main Business||:||Development and operation of C2C platforms for used smartphones|