What is the difference between a normal and a refurb iPhone 4?

babygurl97

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The iphone is a bit pricey but I was wondering if the refurb would work just as good? what are the bad parts?
 
Normal: the iPhone hasn't been purchased before and is brand new still

Refurbished product: has been purchased by a customer before, they have returned it because of a fault or they didn't want it and exchanged it, but the product is still in working condition
 
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