Refurbish, in everyday language, is "to renew or to restore to a new condition and/or appearance". In the computer world, refurbished equipment is not necessarily defective in any way; it may just be "old" (a relative term in the world of computers).

Buying refurbished computers allows you to save money and still own a feature-rich, quality computer refitted to be as good as new and most carry a 90-day warranty included!