Used Electronics Get New Life as Credit Toward Update

By Antony Bruno, Reuters Monday, March 24, 2008

Leave it to the gadget industry to turn concern over electronic waste into a sales opportunity. Simply put, they're offering to buy back old devices to recycle or resell, in return for cash or in-store credit. Coming to consumer electronic retailers nationwide this spring is the ecoNEW program from NEW Customer Service Cos., the company that provides extended warranty plans and protection programs for such retailers as Best Buy and Wal-Mart. Under the program, consumers can return any electronics products they own to participating retailers (which have not yet been announced) -- even if they weren't purchased at the store. In return they'll receive an in-store credit gift card for a predetermined amount based on the type and condition of the device. EcoNEW handles all the collection and evaluation details and issues the gift cards directly. Another company, TechForward, offers a guaranteed buyback program similar to the optional extended warranty services offered by many consumer electronic retail stores. But instead of buying extra coverage in case the product breaks, the consumer buys insurance of sorts against future upgrades.

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