Do you have an old smartphone sitting in a drawer? It’s one in a pile worth $7.8 billion

By Olivia Gee ·

There are currently more mobile phone connections (close to 33 million) than there are people in Australia, according to the consumer data researchers at Statista. 

Unless you can text simultaneously in each hand, this means there are heaps of powered-down phones just taking up space.

Rather than let your old smartphone sit in the odds-and-ends drawer and become less relevant by the day, you could think about selling it.

EBay estimates there is $7.8 billion in unused smartphones languishing in Australian households. The digital marketplace juggernaut says potential sellers could make up to $386 more by selling well-preserved devices via its platform instead of trading in after an upgrade.   

And it looks like plenty of Aussies are jumping on board, with 76,626 secondhand smartphone sales recorded on eBay since the beginning of 2020 – that’s around 11 handsets changing hands every hour.

Gumtree’s Second Hand Economy Report
also shows there are big bucks to be made through more sustainable selling. It calculates the pre-loved economy is worth $42 billion in 2020, which is a $3 billion increase on the nine previous years analysed by Gumtree. 

Staying connected sustainably

Whether you’re an Apple fan or on team Android, it can be difficult to invest sustainably in technology. While an antique lounge is built to stand the test of time (and style), mobiles see constant upgrades and reinventions, and some components like batteries are intentionally built to degrade over time.

So, if you’ve well-and-truly busted up your old device and reselling isn’t an option, make sure you recycle it properly. 

Longstanding government e-waste recycling initiative MobileMuster collected more than 84 tonnes of mobile phone components in 2019 alone. At least 95% of these old parts are transformed into valuable materials.

Another important ‘r’ to remember is ‘reuse’. MobileMuster’s 2019 report showed people repairing mobile devices (33%) and buying pre-loved (21%) are both on the up, especially in younger demographics.

If you’ve saved big on a bunch on a savvy tech purchase or sales, think about squirreling the cash away in one of the savings accounts below for future sustainable shopping sprees.

Compare savings accounts - last updated January 23, 2021

Search promoted savings accounts below or do a full Mozo database search. Advertiser disclosure.
  • mozo-experts-choice-2020
    Bonus Saver Account

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    1.20% p.a. (for $0 to $250,000)
    0.10% p.a.(for $0 and over)
    Yes up to $250,000

    Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Everyday or Glide transaction accounts.

    Compare
    Details
  • Serious Saver

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    0.90% p.a. (for $0 to $1,000,000)
    0.05% p.a.(for $0 and over)
    Yes up to $250,000

    No withdrawals in the month. Bonus rate for first 4 months, reverting to 0.05% rate after*

    Compare
    Details
  • Saver Account

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    1.10% p.a. (for $0 to $1,000,000)
    0% p.a.(for $0 and over)
    Yes up to $250,000

    Make 5 or more successful card purchases per calendar month using your Up debit card and digital wallets (ATM transactions excluded).

    Compare
    Details
  • Online Saver

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    1.10% p.a. (for $0 to $500,000)
    0.35% p.a.(for $0 and over)
    Yes up to $250,000

    Bonus rate for the first 4 months from account opening

    Compare
    Details

^See information about the Mozo Experts Choice Savings Accounts Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.