Brits missing out on £6.9BILLION by not trading in old phones – with average used blower worth £150

BRITS are missing out on £6.9 billion – by not trading in their phones.

The research polling 2,083 adults revealed that 88 per cent have not exchanged a mobile phone for cash or money off a new phone within the last two years.

Taking the average of the top five handsets that are traded in, the average smartphone value came in at £152.67.

It also emerged 28 per cent wouldn’t even consider swapping in a mobile phone, because of concerns privacy or believing that it’s too complicated.

While 23 per cent have a lack of trust in quotes given to them previously on their old tech.

The study, by Vodafone UK, also found nearly one in 15 (seven per cent) have discarded a smartphone in a general waste bin.

And 30 per cent have simply kept their old device as a back-up.

However, 58 per cent of these respondents admitted they’ve never actually used spare smartphones, so they just end up hidden away in drawers.

In fact, nearly six in 10 (58 per cent) have up to three unused devices sat at home, gathering dust.

The research was conducted to celebrate the launch of Vodafone’s new trade-in tool, and also revealed people are massively underestimating the worth of old handsets by more than £100.

Adults believe the iPhone X to be valued at less than £100 on average when, in reality, it has a market trade-in value of more than double that at £220.

And now, customers could save as much as £360 off the latest Apple smartphone release by trading in an iPhone X or above.

The study also found that a quarter (25 per cent) of those who have decided to swap-in their old device, say they didn’t receive as much for their mobile as they were initially promised.

TV presenter and Vodafone’s newly appointed chief trade-in officer, Michelle Ackerley, said: “So many people have missed out on savings because the trade-in experience just hasn’t been good enough.

“It’s so frustrating to be quoted one price, and then have that reduced at the last minute.

“As the new Vodafone chief trade-in officer, I want to make sure everyone knows how much money they could be saving, and that everyone gets what they’ve been promised.

“I want to help customers upgrade to the latest tech at a much more affordable price than they might think is possible.”

To mark the launch of the new iPhone 12 Series, Vodafone’s new trade-in tool, available to anyone through the MyVodafone app, allows customers to quickly and easily trade in iPhone X, XS, XS Max or XR or iPhone 8 or 8 Plus for a guaranteed monthly saving on the new handset.

In other news, check out our iPhone 12 review.

If you've got more money to burn, you'll want to read the iPhone 12 Pro review instead.

Or you could take a gander at the Apple Watch 6 review if you've been thinking about upgrading your wrist.

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