Market for second hand devices poised to reach 100 billion yuan

China is home to a second hand cellphone market with a value poised to reach 100 billion yuan ($14.6 billion), due to the rising number of used handsets being traded via online platforms, according to experts.

Zhu Liyang, president of the China Association of Circular Economy, said that as the government advocates simpler, greener and low-carbon lifestyles, many consumers are trading their old phones for new ones and buying second hand products.

He told a recent news conference on the recycling of discarded cellphones that research by his team showed that 50 million used handsets change hands every year in China via online platforms.