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.