New Delhi, Aug. 18 -- Have you ever sold or exchanged an old phone? Or bought a refurbished one? If yes, then you are a part of the $67 billion global industry by the end of 2023, according to CashForPhone. However, as you'd expect, buying a refurbished phone or second-hand phone isn't as simple as walking into a store and asking for one - it takes a bit more research and understanding.

What does 'refurbished' mean?

Even though the usage of the term "refurbished" is quite commonplace, it doesn't inevitably make it a standardized term. It can often be found used interchangeably with words like "recertified," "reconditioned," or just "open box," or "pre-owned." Keeping aside the precise word, "refurbished" is a blanket term that covers a ...