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As Wireless Carriers Race to Reclaim Phones, Sprint Phone Trade-in Program Remains No. 1
|By Business Wire
|March 14, 2014 09:00 AM EDT
For the third straight year, Sprint
[NYSE:S] has been recognized as having the best phone
buyback program among all major U.S. carriers by Compass
Intelligence, a market analytics and consulting firm, who released
its latest report today, "Buyback
and Trade-in Program Market Assessment." The report provides a
comprehensive assessment of mobile device trade-in programs and assessed
carriers based on program capabilities and customers’ experience.
A Sprint customer takes advantage of the buyback program in a Sprint retail store in Chicago, IL. Last year alone, Sprint put more than $100 million back in customers' pockets through their trade-in program. (Photo: Business Wire)
The convenience of Sprint’s
Buyback program, significant presence in-store and online, as well
as its commitment to reclaiming devices earning such accolades as
breaking a Guinness
World Record, led to the recognition. Sprint continues to highlight
the environmental benefits of phone recycling and to raise awareness
around the financial benefits of its phone trade-in program, for which
customers can receive up to a $300 account credit. To date, Sprint
Buyback and the company’s other wireless device recycling programs have
collected more than 50 million devices.
“Sprint earns the highest ranking among all major U.S. carriers for its
mobile phone buyback program due to its creative use of partnerships,
promotions and customer messaging,” said Kate Pearce, strategist and
senior consultant at Compass Intelligence. “The carrier continues to
demonstrate leadership in this area and is committed to an eco-focused
approach in the way it does business.”
“We’re honored to be recognized for these efforts,” said Darren Beck,
director of Sprint’s environmental initiatives. “Sprint is committed to
providing customers with convenient and rewarding options for recycling
their mobile devices. Our buyback program can help customers offset some
of the cost of their next device and helps Sprint avoid substantial
operating costs by reusing most of the devices we collect. It also helps
our communities; reducing electronics in landfills and reducing the
resources, energy and emissions required to produce even more new
Compass Intelligence predicts that by the end of 2014, there will be
roughly 396 million idle or inactive mobile devices in the U.S. Of
those, only about 80 million will be recycled. As wireless devices
continue to penetrate the market, carriers are looking to reclaim those
devices to extend their value.
Sprint was among the first wireless carriers to establish a phone
buyback program in 2001, and has since been the longtime leader in
cellphone reclamation – ensuring financial and bottom-line benefits to
customers and its business. Today, more than four out of every 10
customers in Sprint retail stores participate in the buyback program. These
recycling programs put back more than $100 million in customers’
pockets last year alone and to date, have helped create more than $1
billion in cost avoidance for the company.
Offering certified pre-owned phones to customers at a fraction of the
price benefits customers and is a successful business model for Sprint. Today
nine of every 10 devices that come back through the Sprint Buyback
program get reused, not just recycled. The last 10 percent of phones
that are “recycled” are separated into parts that can be recycled as raw
materials for a surprising number of goods, from jewelry to battery
packs to car parts.
As part of its industry-leading Electronics
Stewardship Policy, which highlights Sprint’s efforts to work with
only third-party certified recyclers to achieve their aggressive
recycling goals, Sprint aims to collect an average of nine devices for
every 10 devices sold by 2017. With Sprint’s new Framily
plan, customers who choose the upgrade option will help Sprint
achieve this goal as customers give back their device should they choose
to upgrade every 12 months.
Sprint continues to receive recognition for its leadership in
environmental practices. Sprint was recently honored
as the most “eco-focused” wireless carrier by Compass Intelligence
and has been widely recognized for its environmental commitments to
decrease energy use, enable more eco-friendly mobile solutions, and
offer industry-leading wireless recycling programs.
Last year, Sprint was the only telecommunications services company named
S&P 500 Climate Performance Leadership Index (CPLI), which
highlights companies that demonstrate strategies committed to improving
their impact on the environment. Sprint was also named for the third
consecutive year to the Dow
Jones Sustainability Index (DJSI) North America, which tracks the
corporate sustainability performance of the top 20 percent of the 600
largest companies by industry in the United States and Canada.
About Sprint Nextel
Sprint (NYSE: S) offers a comprehensive range of wireless and wireline
communications services bringing the freedom of mobility to consumers,
businesses and government users. Sprint served more than 55 million
customers at the end of 2013 and is widely recognized for developing,
engineering and deploying innovative technologies, including the first
wireless 4G service from a national carrier in the United States;
leading prepaid brands including Virgin Mobile USA, Boost Mobile, and
Assurance Wireless; instant national and international push-to-talk
capabilities; and a global Tier 1 Internet backbone. The American
Customer Satisfaction Index rated Sprint as the most improved company in
customer satisfaction, across all 47 industries, during the last five
years. Sprint has been named to the Dow Jones Sustainability Index
(DJSI) North America in 2011, 2012 and 2013. You can learn more and
visit Sprint at www.sprint.com
About Compass Intelligence
Compass Intelligence, a market analytics and consulting firm,
specializes in strategy acceleration and insights for the high-tech and
telecom industries while providing clients tailored services through
excellent customer support. Compass Intelligence provides executive
insights, market sizing/modeling, competitive analysis, strategic
consulting, and expert recommendations on multiple markets. Visit us at http://www.compassintelligence.com.
Follow Compass Intelligence on Twitter at @CompassIntel.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20140314005121/en/
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