Many of the refurbished products like the iPhone have been returned because of sustaining minor damage during shipping or maybe just because the box was torn or damaged. If this is the case, they are then sent back to the factory, but in a brand new box and then sold as a refurbished iPhone. Most of the time the damage is very minor. When the iPhone is sold as refurbished, it has been fixed back to perfection, sold as top quality iPhones but at a discounted price.
Sometimes it is the case that the refurbished iPhone was a floor model or demo model in the store. They are then sold at a discounted priced just waiting for some music savvy customer to scoop it up with out scooping out money from his wallet.
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