ATM for old cellphones.
The folks at EcoATM say that 500 million gadgets are purchased yearly and that the average cellphone is discarded in 13 months. That’s a lot of disposable waste. So the start-up has developed what it claims is the world’s first fully automated machine for buying back old electronics. You place your cellphone in this large EcoATM kiosk, and the machine takes five to 20 seconds to recognize the model from a constantly updated database and determine a value based on the condition. It will pay up to $300 for a used iPhone 4, EcoATM says. The machine determines the condition by testing the screen, buttons and other functions once you connect the device to the kiosk via a cable. It will then spit out cash just like an ATM, but only after you’ve inserted a driver’s license to authenticate that the phone wasn’t stolen and that you’re over 18. Coinstar, known for its coin-counting machines, is an investor.
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