There’s Lots of Money in Those Old iPhones

I was walking by the lengthy iPhone line outside the Apple Store in Soho on Sunday when I heard someone call out: “Turn in your old iPhone and get the new one free!”

I turned around and saw a bearded guy handing out fliers (photo above). They were from FreeiPhoneSwap.com and offered payments equal to the cost of a new 3G iPhone to people who turned in the old ones. Our conversation went something like this.

Me: “So what happens to the old phones?”

Him: “Well, we break them down for parts, strip out the LCD screens, they’re recycled in an environmentally friendly manner…”