How a Traded-In Apple iPhone Gets Refurbished – WSJ (5mins)

So you just traded in your used Apple iPhone 11 at your wireless carrier to get a deal on a brand new iPhone 14. Where does that old phone go? How do companies make money on it?

WSJ’s Joanna Stern heads to a U.S. Mobile Phones facility in New Jersey following an iPhone 11 through the refurbished process to explain how the second-hand phone market is a booming business.