Americans' Need for the Latest Technology Spurs Record-Breaking Smartphone Sales and Buyback Industry Growth

SAN DIEGO, Feb. 12, 2015 /PRNewswire/ -- The average American upgrades their mobile phone every 18 months[1], and, with top device manufacturers putting more devices in the hands of consumers through record smartphone sales in 2014[2], the buyback industry continues to grow. Today, ecoATM®, the nationwide network of automated electronics recycling kiosks, announced that it has collected more than four million cell phones, tablets and MP3 players – nearly double the amount that online buyback competitors, such as Gazelle and uSell, have each reported. ecoATM kiosks can now be found in 1,890 locations in 42 states nationwide (as of December 2014).

"ecoATM was founded with a mission to reduce electronic waste at a time when only three percent of phones were recycled. That environmental commitment and the instant cash rewarded are why consumers choose our kiosks to recycle their devices," said Maria Stipp, president of ecoATM. "The four-million milestone is a true sign of growth, as we have collected more than one million devices in the past six months alone, outpacing our previous collection rate by more than two months."

ecoATM also announced today that co-founder Mark Bowles will take on a new role as senior vice president of innovation. In this new role, Bowles will focus on developing new technology to make device buyback even easier and more rewarding for consumers, ensuring ecoATM maintains its leadership position in the category.

A survey from ecoATM found that less than half (49 percent) of Americans have sold, recycled or given their old smartphones to someone else after they are done using it[3]. This lack of phone recycling and reuse leaves countless devices cluttering drawers and closets in American homes, or finding their way into landfills, contributing to the growing e-waste problem.

"ecoATM provides a convenient recycling option for consumers as e-waste continues to grow at a staggering rate," said Kate Pearce, head of mobility research and sr. strategist at Compass Intelligence. "While the collection of four million devices is an impressive milestone, we expect that by the end of 2015 there will be nearly 425 million idle or inactive mobile devices in the U.S., and of those, only about 100 million will be recycled – a relatively small percentage that we hope will continue to increase with smart solutions such as ecoATM."

ecoATM makes it easy for consumers to recycle their old tablets, cell phones and MP3 players, offering instant cash rewards to combat the growing e-waste problem and keep gadgets out of the nation's landfills. ecoATM kiosks can be found in malls, retail locations and grocery stores including select Wal-Mart, Kroger and Safeway locations.

To learn more about ecoATM or to find a kiosk, visit www.ecoatm.com.

About ecoATM

ecoATM, an Outerwall Inc. (Nasdaq: OUTR) brand, is the first company to create an automated self-serve kiosk system to buy back old phones, tablets or MP3 players for cash. ecoATM uses patented, advanced machine vision, electronic diagnostics, and artificial intelligence to evaluate electronics. ecoATM's eCycling stations provide a convenient trade-in solution with features that validate sellers' identities and deter the sale of stolen phones, and the company collaborates with national, state, and local law-enforcement groups in combating mobile phone theft through innovative use of technology and education (http://www.ecoatm.com/law-enforcement/).

ecoATM holds Responsible Recycling (R2) and ISO14001 certification, confirming the company's commitment to maintaining the highest standards of electronics recycling, as well as ISO27001 certification for information and personal data security.  See http://www.ecoatm.com/how-it-works/ for a video of how an ecoATM kiosk works.  For more information, visit www.ecoatm.com and for more information about Outerwall Inc. please visit www.outerwall.com.

About Outerwall Inc.

Outerwall Inc. (Nasdaq: OUTR) has more than 20 years of experience creating some of the most profitable spaces for their retail partners. Outerwall delivers breakthrough kiosk experiences that delight consumers and generate revenue for retailers. As the company that brought consumers Redbox^® entertainment, Coinstar^® money services, and ecoATM^® electronics recycling kiosks, Outerwall is leading the next generation of automated retail and paving the way for inventive, scalable businesses. Outerwall™ kiosks are in neighborhood grocery stores, drug stores, mass merchants, malls, and other retail locations in the United States, Canada, Puerto Rico, the United Kingdom, and Ireland. Learn more at www.outerwall.com.

[1] Source: Environmental Protection Agency
[2] Source: Apple Q1 earnings announcement
[3] Source: ecoATM 2014 consumer device survey

SOURCE ecoATM

Related Links

http://www.ecoatm.com