Key facts
- Itochu has fully acquired We Sell Cellular (WSC), a U.S. distributor of used mobile phones.
- The Japanese trading house previously held a 79.5% stake in WSC.
- Itochu spent approximately $13.4 million to acquire the remaining shares.
- The acquisition aims to capture demand for low-cost handsets in the U.S. market.
- The global used mobile device market is valued at approximately JPY 10 trillion annually.
Japanese trading house Itochu has fully acquired We Sell Cellular (WSC), a U.S.-based distributor of used mobile phones, aiming to capitalize on the increasing demand for affordable devices. Itochu, which previously held a 79.5% stake in the New York-based company, spent approximately $13.4 million to acquire the remaining shares.
The global market for used mobile devices is estimated to be worth around JPY 10 trillion, with North America representing the largest share at approximately 25%. This market is projected to grow at a compound annual growth rate of over 11%.
We Sell Cellular, founded in 2003, distributes used mobile devices to retailers and wholesalers across North and Central/South America. Itochu, which established its own used mobile device distribution business, Belong Inc., in 2019, views North America as a crucial market for expanding its global share and profitability.
Previously, PhoneX Holdings, Inc. had sold its 79.5% stake in WSC to Itochu Corporation for $47.7 million, a transaction that closed on April 1, 2025. This deal included an option for Itochu to acquire the remaining 20.5% of WSC by April 1, 2028. PhoneX Holdings stated that the sale would allow it to focus on scaling its software platform and driving product innovation in the circular mobile economy, with potential for future technology collaboration with Itochu.