Partnership paid out more than £30 million and recycled 420,000 devices in past year
Recycler Redeem has renewed its contract with Telefonica to manage O2’s recycling and trade-in scheme, O2 Recycle for a further three years.
Redeem has held the contract since 2009 when the scheme, which allows customers to trade-in consumer electronics in-store or online, was launched by the operator. Payments since its inception have topped £100 million with £30 million paid out in the past year alone.
It recycled 420,000 devices last year, representing 30 per cent year-on-year growth according to Redeem. To date, the scheme has recycled more than one million devices.
Analysis by Mobile News, which revealed Redeem and Brightstar were battling to win them tender in October, estimated the contract could be worth more than £12 million to the recycler over the course of the next three years.
The UK mobile handset recycling market is set to grow from 6.7 million devices last year to more than 16 million devices in 2018 (Technavio).
Redeem chief executive officer Claes Svensson said: “O2’s partnership with Redeem is the biggest trade-in and most prominent recycling operation of any European major network operator.
“It brings big benefits to consumers in the form of cash payments and trade-in value for their old devices, and we at Redeem are truly excited to be working with O2 to help support and develop their customer relationships. Of course, recycling old phones and extending their useful lives also has broader social and environmental benefits.”