Report: US Consumers Sit On Over $33.8 Billion in Unused Cell Phones
SellCell.com, the leading cell and smartphone recycling price comparison site in the US, today released results from its new "2013 Mobile Mountain Study" which found that over half (53.6 percent) of consumers say they have two or more unused cell phones in their household. Based on the survey, conducted by OnePoll on behalf of SellCell.com, the number of mobile phone owners in the US and the average cell phone sold on SellCell.com ($91), it is now estimated that Americans currently sit on $33.85 billion dollars' worth of unused or old cell or phones in their households. By comparison, the estimated amount of money in old devices across the country is equal or greater than the estimated value of the entire mobile application industry ($30 billion ), American roofing industry ($30 billion ) or American crafting industry (nearly $30 billion ).
The survey also found:
- Consumers have an average of 1.88 old or unused cell phones in their household;
- Almost one in five (19.5 percent) are missing out on the opportunity to cash in because they are 'too lazy' to get rid of old devices, and more than one in five (22.8 percent) are worried about jeopardizing their personal data by throwing away or recycling their unused cell phone;
- Men (25.6 percent) are about twice as likely as women (13.5) to say they are too lazy to get rid of an old or unused cell phone;
- Over half of all consumers (54.9 percent) stash their old phones at home in a box while only 20 percent sell or recycle their phones for cash.
Colin White, managing director for SellCell.com commented, "Many Americans are looking for ways to earn some extra cash, especially in a sluggish economy and following the expensive holiday season. So, it is very surprising that consumers are literally sitting on billions of potential dollars in their unused smartphones and feature phones, often stashed away in boxes at home. We estimate that each American with two unused devices has, on average, just under two hundred potential dollars. For consumers worried about the time required to sell their phones, by using an offer comparison tool cell phone owners can quickly get multiple offers and cash in, meaning the amount of legwork needed to sell back and recycle their device is minimized."
According to SellCell.com, the average cell phone now gets $91 when recycled online, meaning that, according to the survey, the average consumer has roughly $171 in old devices in their home.