Don't Forget about Your Used Smartphone

(NBC News) The latest smartphone is set to be introduced Tuesday and if you're planning to get one have you thought about what you'll do with the used one?

In deciding what to do with your used smartphone, realize it's probably worth more than you paid because they're more expensive in other countries.

"We work with our partners to sell these phones into other countries and into emerging markets where they can go ahead and buy the phone for four hundred, five hundred dollars," said Anthony Scarsella of

That's why gadget resellers like, or are willing to pay up to $300 for your used smartphone provided you've kept it in good shape.

That means keeping it wrapped in a protective case with a screen protector.

When you are ready for resale remove your personal info from the phone.

"Wiping, wiping the phone, removing all text messages, images, data, personal data, emails," Scarsella said.

Clearing the information and returning the phone to stock condition can earn you money to buy your next one.

There are a couple of other suggestions on what to do with your used smartphone.

Wireless companies like Verizon give cash credit when trading in your used smartphone for a new one.

Don't expect anything from the basic flip-phones.

They don't have re-sell value but there are plenty of charitable groups around that can use them and you can take a tax deduction for the donation.

But the experts urge you not to do what over 40-percent of Americans do and that is throw the old phone in a drawer somewhere and forget about it.

By the way, the gadget re-sell industry is huge.

Reselling not just smartphones but computers, tablets and games by 2017, it's expected to be a 14-billion dollar a year industry.

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