According to recent data from Counterpoint Research, the refurbished smartphone market grew 10% in 2018, with close to 140 million units sold globally.
It’s not hard to see why. As the cost of new devices steadily increases, budget-conscious consumers who want the latest tech are increasingly looking to cheaper, refurbished phones. With the used mobile phone market looking to be worth over $52 billion by 2020, savvy retailers have noticed the potential of this rapidly growing market and numerous high-street retailers are now offering to buy unwanted mobiles and smartphones direct from the public so that they can be refurbished and resold.
Unfortunately, as the demand for second hand mobile phones grows, so too does the risk of theft and fraud.
For businesses trading second hand devices, lost or stolen devices and post-purchase blocking can be a major issue.
The latest ONS crime figures compiled from the Crime Survey for England and Wales show that over 400,000 mobile phones were reported as stolen in the 12 month period ending March 2017, highlighting the importance for consumers and retailers to take the necessary precautions and check the history of a used device before purchasing.
Anybody purchasing used mobile phones needs to be sure the device hasn’t been lost or stolen and subsequently blocked or blacklisted by insurance companies or networks.
MobiCHECK is our renowned instant due-diligence solution that checks against a variety of independent datasets, to provide assurance that you are not purchasing lost, stolen or blacklisted devices. Trusted by police forces and insurance companies across the UK, MobiCHECK is an industry leading solution that can protect your stock and your turnover.
Designed with our clients in mind, MobiCHECK allows users to instantly check a device’s unique IMEI number against a variety of independent data-sets, including the GSMA Global Blacklist Registry and law enforcement databases. This means our users are able to make important buying decisions on used devices with the most up-to-date data available.
Additionally, because many of our customers have a high-street presence, we can create instant alerts throughout our network of outlets we work with, to reduce the time-frame in which stolen devices can be sold.
Our industry leading technology is regularly used by retailers and recyclers. Insurers also rely upon our software to effectively challenge deceitful claims and identify high-risk individuals, whilst we’ve helped Police support criminal convictions, allowing them to monitor devices of interest for status. Our unique data sharing Eco-system (SHARE) allows Recyclers, Police, Insurers, Operators to increase intelligence and access exclusive data, reducing the window of opportunity for criminals to prosper through their crimes.
Our highly successful MobiCHECK solution has already been used to protect over £7 million worth of our client’s stock and is used by well known high-street retailers across the country