Main Reason Old iPhones Fetch $200: Hoarding
People have $9B worth sitting at home, unused, says MarketWatch
By John Johnson, Newser Staff
Posted Feb 20, 2013 12:21 PM CST
A customer tests the iPhone 5 at the Apple store in Hong Kong in this file photo.   (AP Photo/Kin Cheung, File)

(Newser) – Got any old phones kicking around? Probably, according to a new survey noted by MarketWatch. US consumers are sitting on about $34 billion worth of the old devices, based on current trade-in values. About half of US consumers have at least two. And of that $34 billion, iPhones account for $9 billion, with Apple customers being the most likely to upgrade to the newest model.

People don't sell or recycle them for a host of reasons: They're afraid of compromising their data, they don't know they can, or they're kind of lazy, says the study. MarketWatch points out that if more iPhone users turned in their old models, the current trade-in price of about $200 would start coming down. That just happens to be the discounted price charged by carriers for new iPhones, which means the days of upgrading essentially for free by savvy users would be over.

More From Newser
My Take on This Story
To report an error on this story,
notify our editors.
Main Reason Old iPhones Fetch $200: Hoarding is...
Show results without voting
You Might Like
Showing 3 of 8 comments
Feb 21, 2013 3:30 AM CST
I just recently set myself free by learning to trade and anybody can do this as far as I'm concerned you just need to go to the right place. Check out the website Traders Superstore, just Google them you should be able to find them, these guys are really doing it right and make you wonder why everybody isn't like them. You can make $2000 a week trading all you need to do is learn how, if I can do it anybody can.
Feb 20, 2013 12:54 PM CST
There is a setting. It's called restore to factory settings.
Feb 20, 2013 12:49 PM CST
I dont know why people buy iphone? It totally a piece of crap. I had many friends who left iphone due to its boring, icons apps sits there dead, not a business phone it more of a entertainment phone. Always lags, buggy, wow added another layer for more boring icons. People if you want a more innovative and very fast and fluid phone and way more beautiful phone and icons apps that gives you instant info without opening an app. Get Windows phone 8 nokia lumia 920 or HTC 8x or any windows phone 8. It best and fast and fluid. Never lags and not much problems like iphone or android phones.