Itochu Corporation, one of Japan’s largest trading houses, has made a bold move into the U.S. secondary mobile market. On April 1st, the Tokyo-based conglomerate finalised an investment of approximately € 44 million for a 79.5% stake in WeSellCellular (WSC), a mid-sized American wholesaler of used smartphones based in New York. SecondaryMarket.news is aware of more Japanese companies and banks that are actively looking for investment opportunities.
Growing demand for used devices
Itochu’s strategic entry reflects growing global demand for affordable, quality-certified smartphones. As new device prices—especially Apple iPhones—continue to climb, second-hand alternatives become increasingly attractive to consumers. This trend is also visible in Japan, where Itochu’s mobile-focused subsidiary Belong is experiencing steady sales growth.
A trusted player in refurb market
Founded in 1858, Itochu has built a diverse portfolio across sectors including textiles, energy, and food. The company has recently accelerated efforts in digitalisation and circular economy initiatives. With trade-in enabler and reseller of used devices, Belong, already active in Japan’s secondary electronics market, this U.S. expansion marks a significant step in its international ambitions.
WeSellCellular's established B2B platform
WSC brings to the table a strong B2B model. The company sources used smartphones from telecom providers and distributors, conducts rigorous quality checks, and sells certified devices to retailers worldwide. The acquisition enables Itochu to tap directly into the thriving U.S. secondary market and enhance its global resale network.
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