UK Consumers Quoted $30.5 Million In Savings Through Trusted Mobile Phone Recycling Comparison Site CompareMyMobile.com

CompareMyMobile users applying to trade-in old gadgets have been quoted over 50 million GBP/76 million USD* by recycle stores after comparing prices on the site – with potential savings of an extra 20 million GBP/30.5 million USD** by using the comparison tool.

Site information:

·  CompareMyMobile compares over 40 UK gadget recycling vendors based on price and consumer reviews

·  It compares 108,729 prices for 4,143 gadgets

·  Experts say handset values have quadrupled since the site launched

Huge savings seen online and in mobile applications:

Since launching back in 2009 leading gadget recycling comparison tool CompareMyMobile.com has processed hundreds of thousands of transactions both on the site and iOS/Android apps, with Brits seeing a huge 20 million GBP/30.5 million USD** difference in their chosen quote and the lowest price offered by using the site - diverting tons of electronic waste from landfill.

The average price of a recycled phone:

Experts say that as the trend of selling old phones to upgrade has grown, so has the average price offered for these unwanted handsets. Data from the site shows that the average price of a handset has quadrupled from just 20 GBP back in 2010, to 108 GBP in 2013.

▪  2007 – Average price of a recycled gadget: 20 GBP  (30.22 USD)

▪  2008 – Average price of a recycled gadget: 37 GBP  (55.90 USD)

▪  2009 – Average price of a recycled gadget: 51 GBP  (77.16 USD)

▪  2010 – Average price of a recycled gadget: 64 GBP  (96.69 USD)

▪  2011 – Average price of a recycled gadget: 87 GBP (132.62 USD)

▪  2012 – Average price of a recycled gadget: 114 GBP (172.23 USD)

▪  2013 – Average price of a recycled gadget: 108 GBP (165.83 USD)

CompareMyMobile has also seen the site grow as recycling trends became more popular – it used to just compare 13,402 prices from 21 recyclers, but this number has boomed to 108,729 prices from 44 recyclers in just over three years. The site believes that these numbers mean consumers are guaranteed the most money for their handset by comparing prices. 

Co-founder of the site Ashley Turner says: “We have seen dramatic increases in the awareness of trade ins through online and high street trade-in services. In the last 24 months the largest increase has been in the tablet trade-in market, which is no surprise considering 50% of all PC devices sold are now tablets.”

Brand specific trends in the market:

Apple continues to dominate the comparison site, holding over a third of the mobile phone recycling market share at 35 percent - as it did back at launch in 2009.

Devices such as those from Samsung are catching up though, due to the popularity of handsets like the Galaxy range. Following the release of phones including the Galaxy S3, S4 and Note, Samsung’s trade-in market share has actually doubled to 21 percent - over taking Nokia and BlackBerry to sit as the second most popular brand to be traded in.

Experts say that this is hardly surprising following reports of BlackBerry’s financial struggles this year – the manufacturer was almost sold to a shareholder after disappointing sales of new flagship devices. It now sits behind Samsung, making up 18 percent of the trade-in market.

Nokia has also seen a significant shrink in market share, from 23 percent in 2010 to 7 percent today, as smartphone competition has increased.

CompareMyMobile says it often sees market share and pricing affected by releases of news devices. For example, the site saw a 269.57 percent rise in iPhone trade-in valuations following the iPhone 5S and 5C announcement – which boosted Apple’s market share, and resulted in a reduction in sell-on value.

Summary:

By observing trade-in and price trends, CompareMyMobile are able to advise consumers on the ideal time to sell old devices – to ensure that people walk away with the most money possible from a reliable, trustworthy recycler. Site staff say they are devoted to maintaining the highest standards on CompareMyMobile.com – always continuing to expand and grow, encouraging more people to recycle old phones.

Notes for editors:

For custom quotes or more statistics from CompareMyMobile.com, which draws data from 40+ recycle stores on the site, please get in touch with the main press contact Co-Founder Ashley Turner. For other news, follow our NewsDesk or check out the press pages on our website. CompareMyMobile's Useful Facts and PR Resource Pack is also attached.

* Figures calculated via consumers trading in their device from the original quoted value by the recycle store supplied to us in their product feed.