MIC Electronics has signed a memorandum of understanding (MoU) with Refit Global to explore potential business entry into the refurbished electronics segment. The collaboration will involve detailed evaluation of market potential, sourcing mechanisms, quality standards, and scalable operational frameworks that support refurbishment processes.
This move positions MIC Electronics to study circular economy opportunities within the broader electronics supply ecosystem, potentially opening new product lines and revenue avenues.
Strategic Focus on Sustainability and Market Demand
The refurbished electronics market is gaining traction as consumers and businesses increasingly seek cost-effective, sustainable alternatives to new devices. The MoU aims to assess dynamics such as customer acceptance, product lifecycle extension strategies, and quality assurance protocols required for refurbished offerings.
By partnering with Refit Global, which specialises in refurbishment value chains, MIC Electronics can leverage insights to make informed decisions on future market entry.
Potential Impact on India’s Electronics Sector
Recommerce of electronics aligns with global efforts to reduce device waste and enhance circularity. If MIC Electronics proceeds with a formal launch, it could contribute to strengthening domestic refurbishment infrastructure and set benchmarks for quality and reliability in the segment.
The collaboration reflects broader industry trends toward resource optimisation, extended product life cycles, and responsible manufacturing practices.