Apple audits Alchemy every six months to make sure that it disposing of user data properly
You can buy refurbished iPhone units from Alchemy’s Loop Mobile website
Apple audits the firm twice a year, every six months, because it is knee-deep in user data. The CEO adds, “It’s a pretty serious business as you’d imagine.” And we would add that there are serious consequences if Alchemy doesn’t handle this just right. The next step is to run the trade through an algorithm called Jupiter which runs a diagnostic test. Any issues that can be repaired at a favorable price will be fixed. Otherwise, the device will be pushing up daisies. And by daisies, we mean Apple’s robot Daisy.
does business on websites belonging to Amazon and Walmart.
Alchemy sells 15,000 iPhone 8 units a day despite the phone’s advanced age
Murdock notes how the refurbished phone business has changed. “In the early 2000s the advances in technology between models was huge,” said Murdock. “When a new Nokia 95 or HTC device came out it left the old model obsolete. But now, the tech curve has flattened somewhat, leaving older phones with decent residual value. As you can imagine, this has been a game-changer for the refurb market.”
Each Daisy robot owned by Apple recycles parts from 1.2 million older iPhone units a year
As for Apple devices, the executive states that they “hold their value better than any other tech brand.” A good example involving Alchemy is that the firm sells 15,000 iPhone 8 models a day even though the phone was originally released in 2017.
The refurb market has been good to Alchemy. Last year, the company grossed $442 million and aims to hit $700 million in revenue this year with $1 billion as the target for 2024. To date, it has sold 3.7 million refurbished devices. That’s good for the environment, good for the buyer, and good for Alchemy.
