From Wikipedia:
"Computers and laptops that are refurbished usually means that it did not initially pass quality standards of the manufacturer. They then fix or recertify the unit and sell it at a discount price (Up to 30% off). Most of them carry a 30 day store warranty and 90 days with manufacturer.
Open-box, returned and/or repaired electronics of all kinds are frequently sold as refurbished, almost always with a guarantee of functionality and at a small discount. Refurbishment is especially common with more expensive types of electronics such as video game consoles and computer monitors, likely because these items have relatively high return rates (attributed to a combination of buyer's remorse and the fact that categories of electronics have a direct cost-to-complexity relationship; complex gadgets are more likely than simpler ones to have one or two defective components) and benefit more, sales-wise, from price-proportional discounts than cheaper items."
Buy at your own risk, really. I see refurbished items as open box most of the time, and people would return their laptops for whatever reason, but I think the most case would be either buyer's remorse or something was wrong with it, such as dead pixels.
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