U.S. Customers Are Hoarding $13.4bn Of Old iPhones

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The iPhone 5 is going to be huge.
The iPhone 5 is going to be huge.

Around half of U.S. consumers are hoarding their old iPhones in cupboards and sock drawers — representing an inventory worth around $13.4 billion in total.

According to the annual “Mobile Mountain Study” conducted by research group OnePoll for resale site SellCell.com, this figure is down from the 55% of people who admitted to holding onto their old smartphones last year — although the total amount of money being left on the table is up from last year’s sum of $9 billion, thanks to the growing smartphone market.

“Americans are still unaware of the money they can make by trading in their old mobile,” says SellCell founder Keir McConomy.

Want To Sell Your Next Phone? It’s Not Worth It Unless It’s An iPhone

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iphoneresale

 

Your brand new car starts losing value the second you drive it off the dealer’s lot – that an old (and very true) addage. Like a new, a new piece of technology begins to lose value or depreciate as soon as you leave the store. With cars and with major tech purchases like a new iMac, this isn’t an immediate source of pain or dismay since you’ll be using them for at least a few years.

When it comes to smartphones and other mobile devices like our iPhones and iPads, depreceiation and loss of dollar value is equally true. The big difference is that most of us don’t hold to them for nearly as long.

If you’re in the habit of passing your iPhone or other mobile device onto friends or family members, that may not matter too much. But what if you’re looking to recoup some your investment?