It is unlikely that the global recession has completely dampened people's enthusiasm for new gadgets this Christmas.
But for cash-strapped consumers with a shiny new mobile in their
hands, there is a way of making money from their old, unwanted
According to mobile phone trade-in website FoneBank, only 20%
of UK consumers are recycling their mobiles but those that do can
recycle their old mobiles for cash.
During November Fonebank sent out £200,000 worth of cheques,
with an average per person of £50, although an iPhone can raise
"One of the most popular ones traded in during October was Nokia's N95 which can raise £102 for the owner," said Mr Tagg.
"People recycling their phones make a bit of money and feel they
are doing the right thing. The whole process takes three minutes online
and then they just have to stick their phone in a jiffy bag," he added.
This year Fonebank has teamed up with Oxfam to donate a minimum
of 10% of the value of the phone to aid the charity's work in the
Other charities, including Age Concern and the British Red Cross, are also offering people the chance to donate phones.