Mazuma takeover shows power of mobile recycling industry
Wednesday, February 7, 2018 - 09:40:20
Mazuma is one of the best known brands in the UK when it comes to mobile recycling. So it is no surprise to see it grab the attention of international investors, with a successful acquisition announced by EcoRenew last month.
Its new owners are based in Hong Kong and have had their eye on a number of British firms associated with mobile phone recycling, according to Tech Radar.
In addition to snapping up Mazuma, another recent addition to the EcoRenew stable was ICT Reverse. This is a firm dedicated to secure data deletion, which makes sense given the security implications involved with selling old mobile phones and sending them to third parties.
Originally established 12 years ago, Mazuma quickly became a major proponent of mobile recycling in the UK. It has been the winner of major industry awards and has had successful ad campaigns in the mainstream media.
There are of course a number of other important players in the mobile recycling market at the moment, including the likes of other well known operators, Envirofone and Music Magpie. Because of this, there is a healthy amount of competition, which results in better prices being offered to customers.
EcoRenew plans to put its newest acquisitions to good use this year and could have a significant impact on the British marketplace as it moves to consolidate its position.
Whether or not it will retain the Mazuma brand remains to be seen, although since this already has a good deal of recognition and respect among consumers it would make sense for it to stick around going forwards.
Meanwhile, the promise of new mobile recycling services and products associated with the industry will perhaps give Mazuma the edge over its rivals now that it is part of a larger organisation.
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