Old Smartphone Stash Potentially Equates to $5.7 Billion

As the cost of living crisis continues, new research* reveals the average Australian adult has $279 sitting around in the form of old smartphones – the equivalent of almost two weeks worth of groceries.

The research conducted by Pure Profile shows Australians have on average 1.5 old smartphones lying around, with one in five (20%) having three unused phones. In extreme cases, some households have hoarded more than 10 unused devices.

With the average perceived value of these phones being $186, the average person has the opportunity to cash in on $279.

Tasmanians had the third-biggest amount of spare smartphones, with 1.6 per person. The list was topped by South Australians with 1.8, then Victorians with 1.7.

Licensed financial advisor Queenie Tan believes Australians are missing out on money that’s literally just sitting in a drawer at a time when they need it more than ever.

“Old phones are getting thrown into the bottom of the junk drawer to deal with later,” said Tan. “The trouble is, they often get forgotten about. I’m a huge fan of making everything you have work harder for you, to get you where you want to be financially, faster.

“There’s a huge opportunity to either sell these old phones to make some quick cash or trade in the old tech for a new phone with massive savings, so you can get the phone you want without the outlay.”

Her top tips to be financially savvy with old phones:

Sell

Selling old items is one of my favourite side hustles. Sites like eBay make it super simple to sell old phones. My tip is to take great pictures and craft your copy with some personality with the detail – turning listings from drab to fab.

Trade in

Upgrade to the phone you want without spending big bucks by trading in your old phone. Various companies have offers – including for the end of the financial year – on phone trade-ins when you upgrade. Shop around for the best deal.

Donate

Go for the feel good factor. Many places such as DV Safe Phone will take your old phone and ensure it goes to someone that’s in need. Even ones that don’t work can be recycled to fix other broken ones, to ensure as many people as possible can receive vital communication options that can hugely impact their lives.

*Research was conducted by consumer research firm, Pure Profile for Oppo on 19 June 2023 with 1000 respondents nationwide.