Trade-in
16
Jan
2025
3
min read

Research reveals millions of pounds in unused smartphones across UK households

Research by Virgin Media O2 reveals that the average UK household owns over € 237 worth of unused smartphones. However, only one in ten Brits have traded in a mobile device in the past five years, leaving millions in potential cash untapped. To address this, O2 is urging consumers to recycle old phones through O2 Recycle, a program that helps both wallets and the environment.

Many Brits unaware of smartphone trade-in opportunities

Nearly a third of Brits (29%) are unaware that unused devices can be traded in for money, and 35% don’t know where to recycle their old phones. This lack of awareness contributes to valuable devices gathering dust in drawers or, worse, ending up in landfills. Virgin Media O2 highlights the urgency of this issue, especially as electronic waste continues to grow.

Misconceptions about responsible disposal

The research also uncovered a worrying trend: almost a quarter of Brits (24%) mistakenly believe that disposing of old phones in general bins, tips, or skips qualifies as responsible recycling. This misconception poses significant environmental risks, as discarded electronics often end up in landfills, where they can leak harmful materials into the environment.

Generational differences in recycling habits

The study found notable generational differences in attitudes toward recycling. While six in ten Millennials consider themselves eco-conscious, less than half (45%) of Gen Z respondents feel the same. Only 8% of Gen Z individuals have recycled an old device in the last five years, compared to higher rates among older generations.

Delaying trade-ins could cost Brits cash

O2 Recycle experts warn that unused tech loses value over time. Brits typically take up to three months to trade in old phones, which could significantly reduce the payout they receive. To maximize financial returns, O2 advises trading in devices as soon as possible. We should approach the economic value of this opportunity with some caution. While it’s true that many of us have unused phones and smartphones tucked away in drawers, a significant portion of these devices may be too old to be resold or given a second life. It would be both commendable and sustainable if O2 focused on recycling these older devices, as they likely hold no resale value. However, recycling such phones may come at a considerable cost to the network.

O2 Recycle: a solution for everyone

Since its launch in 2009, O2 Recycle, managed by Ingram Micro Lifecycle, has recycled over 4 million devices and paid customers more than € 415 million. The program is open to all consumers, regardless of their mobile operator. In 2023 alone, O2 Recycle processed over 100,000 devices, which were either refurbished for resale or recycled responsibly.

The ‘Like New’ range: Saving money and the planet

For those looking to upgrade, O2 offers its ‘Like New’ refurbished phone range, providing savings of up to £200 compared to buying new. This initiative not only benefits consumers financially but also reduces the carbon footprint associated with manufacturing new devices.

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