Junk is a lucrative business here in the Philippines, from the street buyers who buys used bottles, newspapers, irons and plastics to the wholesale buyers. The electronic junks that clutter in our house is yet to be harness to recycle or reuse the working items and at the same time turn it back as money. Springwise has this report from the U.S.  offering a solution is EcoATM, an automated reuse-and-recycle machine that makes it easy and financially rewarding for consumers to offload their abandoned electronics.

The process is simple: a customer feeds the machine an old mobile phone and it analyses the device and assigns it a value. If the phone has a resale value, the customer receives store credit, or can donate the amount to charity. If there’s no resale value, customers can choose to have the handset recycled.

The first EcoATM was installed in Omaha, Nebraska, and has already proved successful, with 23 phones collected on the first day.

It’s likely to hold appeal for retailers and manufacturers too, as the system is designed to facilitate compliance with new federal ‘takeback’ laws. Although it currently only takes mobile phones, EcoATM will soon be able to accept a range of consumer electronics including MP3 players, digital cameras and even computers and printers.

The incentive for EcoATM is clear: an estimated 12 billion dollars is currently sitting in drawers across America in the form of old phones.

Photo by EcoATM.