Carrollton, TX – CExchange, LLC today announces that SP International, Inc., has acquired thirty percent (30%) of CExchange through a strategic investment by this subsidiary of FIH Mobile Limited (FIH).
FIH, listed in Hong Kong (2038.hk) is the global green handset and wireless communications manufacturing and service industries leader. FIH is making a strategic investment in CExchange to gain exposure to the consumer electronics trade-in, buy back and reverse logistics businesses in the United States and to capitalize on the growth of this aspect of the global handset industry. FIH will leverage CExchange’s unique service positioning, is familiarity with the retail and wireless industries and related legal and regulatory regimes, its sophisticated pricing mechanism and information technology systems, as well as its comprehensive network of resale and distribution channels.
CExchange is the leading provider of consumer electronics trade-in services in the U.S. retail sector and an expert in reverse logistics, repair services, asset recovery management, as well as retail sales representation. It provides services to the largest US retailers and mass merchants as well as to the largest regional carriers and retailers representing tens of thousands of store-fronts. It also provides millions of trade-in appraisals via its partner’s websites.
The combination of CExchange’s superior retail system technology and processes for trade-in, along with its reverse logistics, refurbishing services, and knowledge of the wireless retail space alongside FIH’s deep global technology capabilities, scale, and relationships, creates an unmatched suite of services to provide carriers and retailers with low-cost, high-value and high-velocity end-to-end solutions including:
- Returns Management
- Inventory Management
“FIH Mobile Limited is excited to enter into the US trade-in and buy-back industry and we are pleased to be doing this with the industry leader. Our investment will allow us to take advantage of our combined resources to help significantly grow the re-commerce industry and our combined position within this competitive market place”, said FIH Chairman Vincent Tong. “We believe the CExchange management team and their proven success is a great fit with the FIH executive team and our combined resources will provide the ability to deliver value and scale that is unmatched in the global wireless and retail industry. We’re excited to see what we can do together in the years ahead,” said Mr. Tong.
Hunter Howard, President and COO of CExchange said “earning the trust of FIH, based on their thorough review of our capabilities, is further validation of our investments in people, technology, channel networks and operational processes. Our ISO certifications and R2 certified facility, end-to-end secure technology, and experienced management team are the reasons for our success, and we are ready to take our company to the next level, both in the U.S. and abroad, with the support of FIH, a recognized global leader.”
The two companies will be actively involved with major accounts and prospective clients at the CTIA show in Las Vegas during the week of September 8th. “We felt that there was no better time than during the CTIA Super Mobility Week to announce our new partnership”, said Scott Nordhaus, CEO of CExchange. “We are proud of our relationship with FIH and look forward to expanding services with existing accounts, while growing our portfolio of strategic partners through our combined strengths.”
CTIA and the CTIA Super Mobility Week are trademarks of CTIA, The Wireless Association and are neither affiliated with or endorsing anything included in this press release.
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CExchange is the leading provider of retail trade-in and recycling services. The company provides custom retail solutions to meet the needs of a diverse set of clients including several Fortune 500 companies, both online and offline. CExchange is committed to providing services that help consumers get maximum value for their used electronics while protecting the environment through responsible recycling. CExchange has multiple divisions that provide services which include manufacturer representation, reverse logistics and refurbishing, resale and liquidation services.
About SP International, Inc.
SP International, Inc. a wholly owned subsidiary of FIH Mobile Limited, is incorporated in the US state of Illinois.
About FIH Mobile Limited
FIH (2038.hk) is a leading green manufacturing services provider offering a comprehensive array of services for leaders in the handset and wireless communications industries. From product development and design, to manufacturing and assembly, to after-sales services and repairs, FIH uses a customer-focused, highly integrated approach to ensure top-quality execution and rapid delivery of everything needed for partners to compete in a rapidly evolving marketplace. FIH employs over 75,000 people throughout operations spanning Europe, Asia, and the Americas.