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Are you sitting on a mobile fortune?

Are you sitting on a mobile fortune?

Category: Mobile Phones

Updated: 02/06/2011
First Published: 02/06/2011

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Millions of Britons could find themselves hundreds of pounds better off by cashing in on their old mobile phones.

Research conducted by Orange has found that one in three people has no idea how to recycle an old mobile phone, and receive a handy sum as part of the bargain.

There are plenty of ways to receive money for your old handsets, from using online recycling sites to going straight to your operator.

Consumers can also trade their old handsets in to get money off the cost of their next phone in some cases.

Consumers can receive hundreds of pounds for premium handsets such as the iPhone 4, HTC Desire S or Samsung Galaxy II, with more modest sums for basic mobiles.

Despite the prospect of easy money, four in ten (40%) Brits have never recycled an old mobile phone while one in four (24%) has never even considered the cash-back opportunities of recycling.

Furthermore, one in ten (11%) Britons confess to hoarding old handsets for sentimental reasons despite them lying unused for years.

Surprisingly, it is the younger generation that are most reluctant to get rid of their old handsets, with almost a quarter (23%) of 18-24 year olds sitting on their former mobiles compared with one in ten (7%) of those aged 55 or older.

"I'm surprised that so many people have never recycled a mobile phone or even considered that they could get cash back for them," said Dan Thomas, head of the Recycle & Reward Scheme at Orange.

"Recycling old handsets is good for the environment and good for consumers' pockets."

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