Mobile recycling hits record level
The number of mobile phones recycled in the UK reached a record 6.7 million last year as consumers took advantage of early upgrade offers to get their hands on Apple’s iPhone 6 and other new handsets.
And that figure is expected to more than double to 16 million recycled handsets by 2018. More than 500,000 O2 customers traded in their handsets last year, which has led to the telecoms giant signing a three-year deal with a firm in Scotland that recycles phones.
Most of the phones handled by West Lothian-based Redeem Holdings are reconditioned and sold on to consumers in developing markets.
Redeem has seen its revenues grow nearly 50% per year over the last four years and are expected to reach £90m in the current financial year, with profits of £4m.
The firm now operates in 23 countries on three continents, with regional offices in Spain, Sweden, Estonia, Dubai and Hong Kong. Of the 280 people it employs, around 210 are based in the UK.
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