Cash in on your old smartphone: Recycle and profit
In the vast, forgotten corners of drawers around the globe, approximately five billion discarded smartphones are languishing. However, these aren’t just obsolete tech relics; they represent an untapped goldmine – literally.
Transforming e-waste into e-wealth
These discarded phones are rife with valuable materials such as gold, palladium, silver, copper, and a host of rare earth elements. Their combined worth is a staggering $8 billion, as detailed in a fresh report by GSMA, an association that defends the interests of global mobile operators.
GSMA’s report centers on “pace-setting targets” signed off by twelve prominent mobile operators worldwide. This list includes BT Group, Globe Telecom, GO Malta, Iliad, KDDI, NOS, Orange, Proximus, Safaricom, Singtel, Tele2, and Telefonica. These new objectives represent a growing emphasis on second-hand devices. This leads to a “circular” supply chain for smartphones, deviating from the traditional “take-make-dispose” strategy.
A step towards sustainability
Two major targets have been outlined: heightening mobile phone take-back and enhancing mobile device recovery to deter landfill or incineration disposal. By 2030, the mobile operators aim to collect used devices through take-back schemes, constituting at least 20% of new mobile phones directly distributed to customers.
Furthermore, the collected devices should be repaired, reconditioned, or given to regulated recycling organizations by 2030.
The campaign aims to curb electronic waste and cut manufacturing costs. To give a scale of potential, GSMA states the discarded smartphones contain sufficient cobalt for the production of 10 million electric car batteries.
Market for used devices
Whether this initiative gains significant momentum is yet to be seen. However, it appears promising given the burgeoning market for used and refurbished devices. This surge is largely due to the rising cost of living and the decreasing novelty factor of new smartphones. Consequently, consumers are favoring older models, used devices, and refurbished phones.
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