This article only represents the author's own views.
Perhaps it was a case of smartphone fatigue, after many Chinese spent too much time at home on their mobile devices during last year’s frequent Covid restrictions.
Whatever the reason, droves of Chinese consumers decided to trade in their old smartphones in this year’s first quarter, providing a business boom for electronics recycler ATRenew Inc. (RERE.US), according to its latest quarterly report this week. The company also notched big gains for its newer business recycling other consumer goods like luxury bags and gold, as Covid-weary Chinese consumers looked to change not only their phones but also many of their other personal items.
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