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Not sure about this. It's illegal to sell any product in the UK or EU without CE approval. USA phones are not CE-approved.
Surprised MM is not aware of this.
https://certification-experts.com/knowledgebase/what-happens-if-my-product-is-brought-onto-the-market-without-ce-marking/#:~:text=If%20a%20product%2C%20which%20falls,and%20penalties%20can%20be%20imposed.
Https://uk.trustpilot.com/review/the-music-matters.com?sort=recency
I have always said the potential in the refurb market is huge, it's massive. We are only just seeing the start of how big this market is going to be. Growing year on year at a far greater rate than new devices, i expect it to be a common as buying used car one day soon.
BUT, MM are not the market they are a player with the refurb space along with countless others. From many posts below some seem to this they have exclusivity over this growing market.
For me to go long, I need to hear what they can offer or do that no competitor can do. That would give them an advantage over the others, currently I see zero advantages. In fact as my previous post shows they are actually at a disadvantage over many of their competitors.
I also accept that a few years back they were dominant in the refurb market, but many others have joined the "gold rush" since then.
Found it an interesting read as to why there is no mention of MM in there.
Selling to corporates seems to be a strategy they are implementing for MM to make a profit. Other companies are already doing that. It shows that selling to businesses, along with the kiosks will not not help make MM a profit.
I keep saying MM have zero advantage over the competitors; they are not doing anything or proposing anything that others are not already doing or could easily do. To put it into perspective MM selling to the corporate market was noise they made what like over 1 year ago? and to date the only company they name as having sold to is stagecoach. One corporate a year, really !!
At this moment, I have no position in MM. I shorted them on their IPO and a couple of times thereafter. Wanted to short again when the takeover talks failed but have been unable to so.
Just sharing the knowledge and research that I did.
Interesting read of the difficulties of getting corporates buying refurbished.
https://ucadvanced.com/sustainable-tech-the-growing-trend-of-graded-devices/
I have also reported the people whose comments are factless and personal attacks on others.
This is meant to be a professional forum to discuss MM in a civil way. This is not a school playground or facebook.
Shame we cannot have a breakoff forum where those with valid info which helps others can chat in peace.
There are no interested parties; why I think there is none.
EE, O2, BT, Voda, Sky etc dont need MM. They have stronger brands, a better supply of equipment, and their own websites, upon which, if they don't already do is sell refurbished.
Investors, venture capitalists, banks, etc- If I were one of these, I would be asking the question why are the current investors not investing more? Why are some even liquidating their holdings?
Anyone else. Cheaper and easier to set us a new website with a better brand name, and employ a SEO firm to help dominate google. I guess this could easily be done for a few million. There is nothing that MM has that cannot be replicated.
As for the founders, it's pure emotion and the years they have put into the business, which is why they buy more stock and hold. Its hard to let go of your lifes work and as any good captain they will be the last to get off the ship when it starts to sink. Completely understandable
Awards mean nothing; they dont pay the bills, or bring in revenue. In fact they take revenue out of the business.
Companies enter themselves for the awards!! but many choose not to. Most of the competitors I have mentioned choose not to enter.
Those that win normally pay for the most tables, provide sponsorship etc so more you give more chance of winning. Plus most are fixed, its a "boys network".
Awards take you away from running a business, you can either focus fully on the business or attend awards, staying overnight in hotels, nursing those hangovers
- it looks like they pulled out shortly after MMAG has stolen a march and partnered with Asda to create the 300 strong network.
In one post you sing the praises of ECOATM purchased for £300 million, but the above makes it sound like
"oh no we have been here for over 1o years, have the largest Kiosks estate in the world. What a newcomer new to this industry oh no lets pack our bags and get out the country before we get educated on how kiosks should be run"
delusion at its best
It's not hard to source tech
Set up a buyback/trade-in site, max outlay £2k-£5k and get onto any of the sites below, as you are Guaranteed devices.
https://www.sellmymobile.com/
https://www.compareandrecycle.co.uk/
Can anyonne provide a USP that MM have that no other competitor has?
A USP which will help them make a profit
Here is a list of what advantage the competitors have over MM
- Not having to answer to the city,
-not having to run decisions past a board of directors
-Not having huge amounts of debt
-Having better internal teams (from my research MM outsources alot, such a marketing)
-Not have the burden of a huge Kiost network
-Have a better understanding of SEO and the internet
-Better Brand name, ask any who has not heard of MM to take a guess what they do a business.
-
@robswire
Yes 100% correct. Simple checks the non-believers could do, but they wont as easier to talk BS.
*Pop into saisnburys and try and find a ECOATM Kiosk
*go onto their site https://locations.ecoatm.com/ and find a kiosk in the UK
* find someone who works in ASDA who can confirm the rubbish coming our of the kiosks.
Giff Gaff
Envirophone
The Big Phone Store
Backmarket
The iOulet
Currys
Reboxed
Handtec
SmartCellular
and many many more
As simple strategy which I see in many other niches, would be for MM to purchase as many competitors as possible, effectively buying every major competitor on page 1 of google.. Cannot see this happening though as they dont have the funds to do this.
The amount of BS in this thread is unbelievable. Some here are posting facts and making valid points, others posts are pure BS, driven purely by emotion and ego, and every intelligent reader can work out who is who, I don't have to name any names.
Anyway
ECO ATM are no longer in the UK, they pulled their entire kiosk estate in 2023, they were losing huge amounts in the UK.
KIOSKS OUTGOING
*Rent to Sainsbury's
*Collection
*Maintenance and repairs
Incoming from Kiosk
*junk worthless models, with little or zero resale value.
*Each Kiosk would be 90-95% junk models,
Simply put the income produced from the handsets did not cover the costs associated with running those kioks,
Key facts:
*they pulled their ENTIRE estate !!! They could have simply pulled any poor-performing locations and left those that performed.
*ECOATM have been in the kiosk industry for over a decade.
MM website is essentially 2 sites in one, the buy side and the sell side. The buy side brings in the money, and the sell side take money out of the company.
I looked at the buy side where the intent is to purchase, as this is what impacts their cash flow in a positive way.
Tomorrow I will post some data on the sell side along with some facts which show the kiosks model is a flawed concept in the UK.
Relationship with 3rd party marketplaces are irrelevant any company which sells refub tech can sell on 3rd party sites, hardly a USP. People are looking to buy/see MM shares here and not shares in Amazon or eBay.
Anyone notice how factual comments are being drowned out and pushed off the first page by a barrage of pointless, factless comments.
I personally don't care if people sell or buy; if everyone holding stock in this thread was to sell, that minuscule amount would hardly affect the share price.
The biggest weakness in trading is emotions and ego.