Chip makers have a message for car makers: Your turn to pay

The shortages of computer chips that forced global automakers to scrap production plans for millions of cars over the past two years are easing - at a new and permanent cost to the car companies.

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French refurbished smartphone seller Back Market valued at $5.7 bln

PARIS, Jan 11 (Reuters) - Back Market, the French marketplace dedicated to refurbished smartphones and electronic devices, said on Tuesday it had closed an investment round of $510 million, bringing its total valuation to $5.7 billion.

"The (...) funding cements Back Market's position as a leading refurbished electronics marketplace, with more than six million customers worldwide," the company said in a statement.

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Back Market, an online platform for buying, selling and servicing refurbished tech gadgets, said on Tuesday it raised $335 million in its latest funding round which valued the company at $3.2 billion. The company, started in France in 2014, aims to make it easier for customers to buy refurbished gadgets like iPhones without having to worry that the seller may be peddling stolen or broken goods, said Chief Executive Thibaud Hug de Larauze.

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