SEATTLE (Scrap Monster): TES- the wholly owned subsidiary of SK ecoplant announced that it has decided to collaborate with South Korean ICT recycling major Mintit to boost its share in the recycling of used mobile phones.
The partnership will make use of Mintit’s AI-based platform for collection of used phones for recycling. It must be noted that Mintit had collected more than one million used phones during the previous year through its unmanned platform called “ATM”. Also, the company had introduced a chatbot service to enhance customer experience and a specialized program for deletion of personal information and data.
The collaboration is considered complementary as it will help TES to use Mintit’s trading platform to expand its market share in the global used mobile phone market, while TES’s global business infrastructure will help Mintit to explore new markets.
The partnership will help Mintit to enter the global market and raise its brand value, said Ha Seong-moon, CEO, Mintit. Meantime, Gary Steel, CEO, TES said that the combination of the global value chains of both the companies would create synergy effects. Incidentally, the global used mobile phone market is projected to witness tremendous growth in the forthcoming years.
SK ecoplant had acquired 100% stake in TES in February this year in a deal worth around $1 billion.
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