Mediarog Enters Used Phone Market... Launches Purchase Platform 'Cello'

On the 11th, Medialog announced the launch of 'SELLO,' an online used phone purchasing platform that enhances transparency and accessibility in secondhand transactions.
[Photo by Medialog]

[Asia Economy Reporter Oh Su-yeon] MediaLog announced on the 11th that it has launched ‘SELLO,’ an online used phone purchasing platform that ensures transparency in secondhand transactions and improves accessibility.

According to global market research firm IDC, the used phone market is expected to record a compound annual growth rate (CAGR) of 10.3% from 2021 to 2026, with the market value estimated to reach $99.9 billion (approximately 124 trillion KRW).

Although used phone transactions have recently surged explosively, it is difficult to assess the residual value of products, and price fluctuations are severe, leading to high consumer dissatisfaction. MediaLog explained that it is entering the used phone market to enhance consumer trust by guaranteeing transparency and fairness and to establish a foundation for sustainable growth. In particular, the launch of SELLO is part of ESG (Environmental, Social, and Governance) management activities aimed at realizing social value through ‘Smart Cycling, Better Sharing,’ creating better sharing through a virtuous cycle of value beyond just the used phone purchasing market.

SELLO provides used phone transaction customers with an environment where they can sell easily and conveniently at good prices, contributing to revitalizing the telecommunications market by helping with new phone purchases, telecom fees, and content subscriptions using the sales proceeds. Sustainable use through used phone recycling and eco-friendly activities also lead to social contributions.

SELLO has advantages such as ▲ no worries about personal information due to double data deletion (Safe), ▲ availability online without time or location restrictions (Simple), and ▲ reliability through precise inspection and fair pricing (Smart).

Users can check prices and sell anytime, anywhere via the app and web. Customers can choose their preferred selling method, such as ‘Sell My Phone Now,’ where they self-check the phone’s condition before selling, or ‘Get a Quote and Sell,’ where the phone undergoes exterior inspection and automatic performance testing before sale.

When applying to sell, customers can select their desired date and location, and a post office collection agent will visit to pick up the phone. Alternatively, customers can return the phone at GS25 convenience stores using an issued approval number, enhancing convenience.

MediaLog conducted customer needs research for entering the used phone market. Those with used phone selling experience considered easy and convenient selling (25%) and minimizing price fluctuations (25%) as the most important factors, while the biggest complaint was inappropriate price setting and related disputes (39%).

SELLO plans to increase trust by minimizing price fluctuations through precise performance and exterior inspections, offering higher compensation compared to competitors, and providing accurate and stable pricing.

In particular, SELLO introduces the security of double personal information deletion?deletion within the app before collection and certified deletion after collection?to safely protect personal information throughout the purchasing and selling process. It aims to minimize customer pain points while providing an attractive experience through sophisticated and excellent service.

By securing rationality and fairness in pricing and grading, SELLO creates a virtuous cycle structure to ensure smooth utilization of used phones.

Seo Jin-young, head of MediaLog’s used phone business, said, “Issues such as personal information leaks and used phone sales fraud have continued to occur, and trust in used phones has been lacking, similar to the used car market. Now, through ‘SELLO,’ used phones can be traded more safely and reasonably.”