Here are a few examples:

• Items where the box or casing was damaged in shipment which are returned to the manufacturer.
  
• The item was returned to the manufacturer because of a slight defect. The part that was defective was replaced by the manufacturer, tested and then repackaged just like new.
  
• The item was returned because of a minor cosmetic blemish on the casing that was corrected.
  
• Demonstration units are also considered factory refurbished. These units are inspected, tested and repackaged.
  
• The box was simply opened. That’s it!
  
• Brand new overstocked items are also labeled factory refurbished.
  It is impossible to know the history of each item, but for whatever reason the unit gets labeled factory refurbished it is inspected & serviced by the manufacturer then tested and repackaged to meet original product specifications. All merchandise is warranted by the original manufacturer unless otherwise specified.

Q: Why should I buy refurbished equipment?

A: Refurbs save cash! Why hesitate getting the best value by getting the exact same equipment, with original manufacturers warranty at a much lower price:

If you couldn’t afford that expensive item till now – NOW you can with a factory refurb! And still get the same performance & warranty.
Refurbished items have a much lower defect rate. From 10 units that come back for repair only 1 is usually a factory refurb, because refurbished units are tested before they are sold.
Bottom line, if all the benefits of buying a refurbished product are the same as a new one even the warranty, the only "drawback" you would notice is probably a little label on the outside of the box or simply a brown box.

Enjoy your extra cash savings!