SHANGHAI -- Chinese online retailer JD.com spent $500 million to purchase a stake in Aihuishou, a platform for recycling used smartphones, with the aim of developing a profit center amid a maturing digital landscape.
Business deals
JD.com invests $500m in used smartphone platform
China's No. 2 e-tailer to merge Aihuishou with flea-market app
Chinese startup Aihuishou recycles old smartphones, some of which it resells on its platform. © Reuters
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