The circular economy is an economic system that operates in a closed loop, wherein products and materials are reused instead of disposed of. This means that everything produced is recycled or reused to create new products and avoid waste, pollution and depletion of resources.
Products are designed to be durable and to have long life cycles with the aim of eliminating or reducing the need for new raw materials. The focus is on quality over quantity - meaning fewer resources are used to produce higher-quality items. The goal is to reduce environmental impact while also creating financial benefits through resource efficiency.
The circular economy can be applied to mobile phones and other technology gadgets in several ways. First, producers are designing products to be more durable, so they last longer and don't need to be replaced as often. Second, manufacturers are using recycled materials when possible to reduce the need for new raw materials. Third, they are providing services such as repair and maintenance to help customers extend the life of their products. Other companies are providing recycling or reusing options for old technology gadgets to reuse parts and materials.