ecoATM Scales Up to Meet Consumer Demand of Trade-Ups to New iPhone 5

SAN DIEGO, Sept. 17, 2012 /PRNewswire/ -- ecoATM, the award-winning San Diego start-up known for its innovative kiosks that fully automate the buy-back of used mobile phones and other portable electronics, announced today it is rapidly expanding into malls nationwide and is currently installing kiosks along the east coast in time to help consumers who want to cash out their older phones to trade up to the new iPhone 5.  By the end of the year, ecoATM will have installed about 300 kiosks nationally. (For information on locations of ecoATM kiosks, see http://ecoatm.com/find-a-location.html)

"There are going to be millions of people buying the new iPhone 5. When they do, we want there to be an ecoATM nearby for them to cash in or recycle their old phones," said Tom Tullie, Chairman and CEO of ecoATM. "With ecoATM, you don't have to ship your phone off or wait to get a check in the mail--we pay cash on the spot. Our ecoATM kiosks recognize thousands of different devices and we take them in any condition, even if they're broken or don't work. Plus we pay more on average than any of the mail-in options—up to $250 for some phones. That's enough to pay for your new iPhone 5."

"There are many attractive buyback options emerging today that allow consumers to get value for their old electronics. Of these, ecoATM's system is currently the only one that provides immediate monetary incentive," said Kate Pearce, Research Strategist and Consultant, Compass Intelligence. "In addition, ecoATM's kiosks currently offer buyback on a fairly broad range of mobile phones while some of the other buyback options may be more selective in what they will buy."

Since being founded in 2008, ecoATM has paid out millions of dollars to hundreds of thousands of customers and in the process saved landfills from hundreds of thousands of potentially toxic devices. ecoATM finds a second life for 75 percent of the devices it collects and responsibly recycles the rest. ecoATM is an R2 certified ewaste recycler and is ISO14001 compliant.

In a separate announcement also issued today, the National Science Foundation (NSF) focused on the fact that ecoATM's advanced technologies were enabled by Phase I and II Small Business Innovation Research (SBIR) grants.  See
http://www.nsf.gov/news/news_summ.jsp?cntn_id=125414
for more information.

About ecoATM

Based in San Diego, Calif., ecoATM (www.ecoatm.com) is the first company to create an automated self-serve kiosk system that uses patented, advanced machine vision, electronic diagnostics, and artificial intelligence to evaluate and buy back used electronics directly from consumers for cash or store credit. ecoATM's eCycling stations provide a convenient trade-in solution that:

• electronically and/or visually inspects virtually any consumer electronic device;
• connects consumers real-time to broad worldwide secondary markets ensuring best pricing; and
• pays consumers immediately in cash.

ecoATM holds both Responsible Recycling (R2) and ISO14001 certification, confirming the company's commitment to maintaining the highest standards of electronics recycling. See http://www.ecoatm.com/how-it-works.html for a video of how an ecoATM kiosk works.

Media contacts: Anita Giani
[email protected]
650.743.0870

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SOURCE ecoATM