April 22, 2018

A New Life for Your Old Smartphone

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A New Life for Your Old Smartphone

If you have an old smartphone you no longer use, don’t just toss it in a drawer. A new effort is afoot to resell old phones as well as allow trade-ins to help fuel sales of newer models. 

“The market for previously owned iPhones and Androids is booming, producing high and predictable resale values that carriers are starting to exploit,” The Wall Street Journal reports. 

Some aging phones could still be worth $200 or $250. However, many people are unaware that their old phones still hold such value. A base model of the iPhone 4 — launched more than three years ago at $200 with a contract — can now be sold for $130 by reseller Gazelle Inc. 

Wireless carriers have pretty much left the trade-in phone business to Web sites such as eBay, or resellers like Brightstar and Gazelle. 

But now carriers are revisiting trade-ins. AT&T, for example, announced it would refurbish trade-ins and possibly resell them at discounted prices to customers or use them as replacement devices through its insurance programs, The Wall Street Journal reports. 

"It is going to be part of regular behavior, having consumers upgrade by trading in their old device," says Israel Ganot, Gazelle’s chief executive. 

Source: “Toss Your Old Phone? Think Again,” The Wall Street Journal (July 29, 2013)

Read more:

Buyer's Guide: 2013 Smartphones
New Plans Allow Phone Upgrades Sooner