Flip Technologies, an online retailer dedicated to second-hand smartphones, estimates its sales will grow by 40-50% this year from RON 171 million (EUR 34 mln) in 2022.

The company expects to cut the losses, which reached RON 19.5 mln amid expansion expenditures in 2022, according to financial director Alexandru Bordea. Also, it plans to expand the range of devices sold.

"The entry into the Bulgarian and Hungarian markets and, implicitly, the increase in marketing expenses had the effect of higher sales burn also higher losses. For this year, the figures indicate that the revenues will grow by 40-50%, and the losses will shrink. We are looking at approaching new markets in the region and will certainly expand our product portfolio," Bordea said, quoted by Profit.ro.

"Currently, Flip.ro buys and sells phones, but we want to complete the offer with other devices, such as laptops, smart watches or tablets," he added.

iulian@romania-insider.com

(Photo source: the company)