Does Apple resell their Iphones after returns?

Let's say someone returned an Iphone back to Apple. Does Apple repackage the Iphone and try to sell it to the next customer? I was wondering if all their products are brand new.

I would assume they replace all damaged parts if fixable and sell them new as refurbished phones when people need replacements. If not fixable then they probably use parts thats are salvageable. Thats what I assume they would do anyways.

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