Tech Expert Reveals UK Households Sitting on £500 Worth of Unused Smartphones

Got old smartphones tucked away in a drawer? They could be worth nearly £500, according to a tech specialist.
Recent research published by Virgin Media O2 states that there are around 48.3 million unused smartphones nationwide, worth an astonishing £14 billion in total – meaning each device, on average, is worth close to £290.

There are 28.6 million households in the UK, according to Statista and the Office for National Statistics, which means the average home is hoarding nearly two old devices, with a combined total value of around £489.51 if traded in or recycled.

Mauricio Garcia, a technology specialist at OddsMonkey, said most people underestimate how much value is hiding in their old tech. “Most people have at least one or two old phones that are inactive, but what they don’t realise is how easy it is to turn them into cash. In just a few clicks, you could make almost £500 – and help the planet at the same time,” he explained.

Garcia said online trade-in platforms are one of the quickest and easiest ways to cash in on forgotten phones. Websites like MusicMagpie, Mazuma Mobile, WeBuyAnyPhone.com, SellPhones.co.uk, and Decluttr all provide instant quotes, free postage, and rapid payments, often within just 24 hours. 

Retailers and mobile networks are also getting involved, with CeX, Argos, Tesco Mobile, and Three offering trade-in schemes both online and in-store, allowing customers to exchange old handsets for cash, store credit, or discounts on new tech. These schemes are becoming a key option in the discussion of how to make money online and in person.

For those upgrading to the latest model, manufacturers such as Apple and Samsung now run official trade-in programmes, giving customers credit toward their next purchase or direct bank payments. And for anyone looking to squeeze out a bit more money, Garcia said that listing devices on eBay or Facebook Marketplace can sometimes fetch higher prices. However, it presents a little more effort and risk when it comes to postage and communication with buyers.

Even broken or outdated phones can still be worth something. Garcia pointed out that EcoATM kiosks, found in many UK shopping centres, offer instant cash for recycled devices. Local council recycling centres also accept small electronics free of charge, while the Recycle Your Electricals website lists almost 30,000 drop-off points at electrical stores and charities across the UK. Charities such as Oxfam and WaterAid even accept old phones to help fund international causes.

Repairing old tech is another option many overlook. “People often think once a phone slows down or the battery fades, it’s useless,” Garcia said. “Local repair shops and community ‘repair cafés’ can often bring an older phone back to life for a fraction of the cost of buying new.”

He also recommended checking comparison tools like MoneySavingExpert and Uswitch to find the best value for trade-ins, ensuring people don’t miss out on the top offers available.

With Christmas fast approaching, Garcia said now is the perfect time for a clear-out. “Millions of new phones will be unwrapped over the festive period, but there’s no need to let your old ones go to waste,” he added. “That iPhone buried in a drawer could easily cover the cost of your Christmas dinner and more – you just need to look in the right place.”