Redeem Plc, the UK-headquartered mobile phone recycling specialist, has today announced plans to open a new operation in Hong Kong which could see the company almost double its turnover this year.
Set to open on February 16, the sales and processing centre will provide entry to a number of core emerging mobile markets including China, India, Africa and South America.
Hong Kong is a world hub for the refurbishment and resale of mobile phones, which will allow Redeem to offer improved services and better pricing models to clients. It will provide a more streamlined and efficient system for Redeem’s growing UK and European operations and position the company firmly at the forefront of mobile phone recycling.
In addition to the processing and sales centre, Redeem plans to start up mobile collection recovery programmes by targeting mobile network operators, manufacturers, businesses and consumers in Hong Kong offering the facility and incentive to recycle mobile phones.
Redeem has operations in UK, Ireland, Italy and Turkey, working with some of the country’s largest operators. All mobile phones collected across those countries will be transported to Hong Kong to be processed and sold on to global markets.
Jamie Rae, Chief Executive of Redeem commented: “The opening of operations in Hong Kong is a key move for our long term growth, with a predicted turnover increase from £5.6million to almost £9 million this year. We recognise the importance of harnessing the opportunity to sell mobile products in the emerging markets and believe that this gives us the opportunity to do that. It will allow us to extend significant benefits to clients, including improved pricing models and greater efficiency for our overall operations. .”
Initially Redeem plans to hire eight new staff to open operations in Hong Kong, but this could rise to forty people as the business grows.
Redeem is currently looking at ongoing opportunities within the UK market and has further plans for expansion in Europe and Asia.
