Apple Earns $40Mn in Gold from Recycled iPhones Last Year

 

 

(pic-valuewalk.com)

(pic-valuewalk.com)

15 April 2016, USA:

The latest information indicates that the California-based company just raked $40 million worth of gold from used iPhones, laptops, tablets and a few golden smart watches. This thanks to its innovative recycling program that uses robots to recover the valuable parts from the millions of Apple devices discarded every year.

 

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Materials that were recovered from the scrap.

 

Ever since Apple launched its 18-karat gold case watch, speculation about the technology giant and its interest in acquiring large amounts of the precious metal has mounted.

Apple recovered last year over 61 million pounds of steel, aluminum, glass, and other materials, including 2,204 pounds of gold.

In its annual environmental report, released Thursday, Apple shed some light on the situation by disclosing some relevant numbers that reveal just how much the company is able to recover from old devices.

The document shows the IT firm got hold of over 61 million pounds of steel, aluminum, glass, and other materials, including 2,204 pounds of gold.

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Estimated amount $40 million figure is based on current prices ($1,229.80 per ounce) and data from Fairphone, an activist group focused on electronics supply chains, which shows that the average smartphone contains 30 milligrams of gold, mainly in internal components.

Apple also said that last year it collected almost 90 million pounds of ewaste through its recycling programs, which works out as 71% of the total weight of the products the company sold seven years earlier.

 

 

 

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