Just 12 months after launching their refurbished tech division, eCommerce company Harris Technology (ASX: HT8) is set to consolidate its position as a leading seller of refurbished tech products in Australia by expanding into new product categories.
The expansion opportunity comes after Harris Technology caught the attention of Taiwanese tech giant FSP Technology Inc which participated in a $1.5 million private placement, acquiring shares in Harris Technology at a 100% premium to its trading price. The placement valued HT8 shares at 2 cents — double the last closing price of 1 cent — highlighting the strategic appeal of Harris’s refurbished tech division which have been the driving force behind a big uplift in margins over the past 12 months.
As reported in their Half Year report, Harris Technology’s overall margins which reached 34.9% across the Half Year ended 31 December 2024, comfortably higher than the 27.1% reported for the previous corresponding period.
The strategic initiative to expand the division, which has already commenced with analytical work into new products, devices and household appliances, reflects growing consumer demand for affordable technology solutions in the face of persistent cost-of-living pressures.
It further illustrates a notable shift in Australian consumer behaviour. With inflation squeezing household budgets, more Aussie households are turning to refurbished electronics as a smart alternative to new products — often at a fraction of the cost and with no compromise on performance. Critically, Harris Technology is able to secure a large segment of this market by being an authorised reseller of refurbished products on Amazon, eBay and other leading online marketplaces
The company’s strong reputation and stringent refurbishment standards have made it a trusted name in the space, particularly for refurbished laptops, monitors, routers, and accessories.
CEO Garrison Huang highlighted the momentum, stating, “It has been pleasing to see the momentum generated by our refurbished business and the gaining of attention from FSP which has provided us with the capital injection to scale the business.”
In their quarterly update covering the three months ended 31 March 2025, Harris Technology reported $3.3 million in sales revenue while also confirming it had increased its sourcing of more pre-owned stock suitable for refurbishment, while also growing its refurbishment team.
The recent capital raise has largely facilitated this, with Harris Technology having $2.1m of cash on hand with $6m undrawn from their finance facility after reporting a cash outflow of $0.3 million for the quarter.
Consumer demand for refurbished tech comes at a pivotal time for Australian retailers. According to industry insights, refurbished devices can offer savings of up to 40% compared to new items, and when reconditioned by a reputable firm, they perform virtually identically to new devices. Beyond the traditional IT products demand has been strong such as laptops and routers, bulky household appliances such as fridges and washing machines are becoming increasingly popular in the marketplace. For Harris Technology, which has a large distribution centre in Hallam, Victoria, there is effectively no additional overhead expense to target these products compared to independent operators that operate out of their garages and don’t have commercial capabilities.
This performance parity, combined with environmental benefits from extending product lifespans, has helped normalise the concept of buying refurbished tech — a trend accelerated by the rising sophistication of sellers like Harris Technology.
The company’s online-first model and deep infrastructure in supply chain management have enabled it to scale its operations efficiently. Inventory at the end of March was reported at $3.3 million, including $2.8 million in newly purchased stock during the quarter.
“Over the coming months, we see a substantial opportunity to leverage Harris Technology’s global supply chain infrastructure to solidify our position as a leading seller of refurbished tech products,” Huang added.
As the company gears up for expansion in FY26, its forward-thinking approach appears to align closely with consumer sentiment — affordability, performance and sustainability — cementing its role in the evolving tech retail landscape.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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