“More Americans are hoarding their old iPhones in the sock drawer, new research shows, despite each gadget being potentially worth several hundred dollars,” Quentin Fottrell reports for MarketWatch. “”

“Almost 50% of people say they store old phones in a box, drawer or cupboard at home, according to a new survey carried out in January and released Wednesday, down from the 55% who were asked the same question a year earlie,” Fottrell reports. “The trade-in value of all those old gadgets: $47 billion based on the total number of smartphone owners in the country, up from $34 billion a year ago, according to the annual ‘Mobile Mountain Study’ conducted by research group OnePoll for resale site SellCell.com , which obviously has a vested interest in tapping into this possible gold mine.”

“In fact, consumers are sitting on $13.4 billion in old iPhones versus an estimated $9 billion this time last year, the survey found. Apple sold a record 51 million iPhones in the most recent quarter, the company announced last month,” Fottrell reports. “Of those who haven’t sold or traded in their old phones, 20% say they gave them away to a family member, friend or partner, 12% say they gave them to a charity, and 9% say they threw them in the trash, the survey found.”

Read more in the full article here.

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