Think about the one item you depend on for getting you through your day. It is probably your most coveted possession; that is, until you decide to replace it for a newer model. The EPA estimates that Americans give up 130 million of them every year. The smartphone.
Most people think about getting their next phone, but have you given thought to where your old phone ends up once it leaves your hands?
There is a growing secondary market for smartphones. On average, Americans use a smartphone for 18 months before they decide to upgrade to a newer model. Often times there is still value in a phone after it has been used. Refurbishers are able to replace broken parts and make the phone like new again for a second user. The market for remanufacturing retired electronics is nothing new in the corporate world, but the sector that is growing fastest is the consumer smartphone market. With BYOD growing in popularity, the line between a personal and business device has blurred, and the demand for newer, better devices continues to grow in many markets. In turn, as the market for new devices continues to grow, so does the secondary market. For those who don’t need or can’t afford the latest and greatest technology, a refurbished smartphone or tablet is a great deal.
This trend is also emerging overseas. CNN released a report this year that the secondary market for the iPhone 6 is on the rise in China, directly due to the popularity of the Apple brand there. It is probably safe to assume that previous versions of the iPhone and iPad have also been reclaimed and remarketed. More smartphones are now produced in the world than ever before, so it makes sense that this secondary market is flourishing as well.
You probably already know that there is usually residual value in smartphones and tablets, whether they are company-owned, CYOD or BYOD. It’s important to that the end of life process includes reliable, certifiable data destruction. Make sure your mobile device managers are familiar with good ITAD practices to ensure environmental compliance and minimize risk of a data breach from any mobile phone or tablet.
Read more about mobile device end of life and disposition on our blog.
