Mobile recycling company Mazuma has announced it has paid out £40 million in cash to customers since launch in 2006.
Mazuma has reached this payout figure before its busiest period – Christmas and the New Year, and expects to see a surge during this time.
To mark the announcement, it has launched a competition with a cash prize of £5,000 for anyone who can correctly guess how many phones are in its ‘Maz Cube’ (pictured).
An image and entry forms are available on its website www.mazumamobile.com. The competition launches on December 16 and will be open until midnight on January 31, 2010.
Mazuma managing director Charlo Carabott said: “We are thrilled to have reached this milestone in our business in what has been a tough year in the wider economy.
“In the run up to Christmas we have seen an influx of phones coming in from people hoping to make some extra spending money, with the average old handset worth £35. In the New Year, we expect to receive close to a staggering 200,000 phones from people who get an upgraded mobile phone for Christmas.
“Mazuma’s success has emerged from the constant assurance we give our customers that not only do they get the best value for trade in price for their old phone and the best service, but their handsets are safely redistributed for reuse.”