Almost 50% of people say they store old phones in a box, drawer or cupboard at home, according to a new survey carried out in January and released Wednesday, down from the 55% who were asked the same question a year earlier. The trade-in value of all those old gadgets: $47 billion based on the total number of smartphone owners in the country, up from $34 billion a year ago.
Apple has been able to convince consumers to buy the new model each year partly because it’s easy and inexpensive for customers to trade in their old ones to get a good chunk off the cost of a new one. But a significant number of users appear to miss out on this opportunity. In fact, consumers are sitting on $13.4 billion in old iPhones versus an estimated $9 billion this time last year, the survey found
I know the $240 1 I got for my iPhone 4S went a long way for paying the cost of the 5S that replaced it. Don't know what took me so long to figure that out, but you won't find me sitting on buried treasure anymore.