Redeem pays £50m to Telefónica (O2) customers for traded-in mobile phones

 Leading mobile recycler, Redeem Holdings Limited is delighted to announce that payments to O2 customers (a subsidiary of Telefónica S.A) for traded-in mobile phones has exceeded £50 million since they launched O2 Recycle.

Redeem in partnership with O2 created in 2009. The specialist wholesale recommerce and recycling company won the business with an ambitious 3- tier plan that laid the foundations for today’s partnership.

The first element was a commitment to pay out more to customers regardless of the network they were on.

Secondly, Redeem saw how to leverage responsible recycling and recommerce to generate substantial cash for O2’s impressive Community programme : Think Big. 

Thirdly, Redeem had the marketing and collection systems for large scale corporate electronic recycling that could be re-branded to provide a better experience for O2’s customers.  Those systems have now evolved into a full multi-channel solution using innovative software to market and manage the collection and processing of traded-in handsets online and from retail outlets. The company also manages world class data-wiping and refurbishment of the handsets, plus their ultimate resale or recycling. This system means no handsets go into landfill sites.

Redeem’s commitment to O2 was further rewarded as their service was extended to their Voice channel and last year, they helped establish O2’s first corporate recycling channel plus introduced mobile recycling to Slovakia with O2’s parent company, Telefónica.

Claes Svensson CEO of Redeem says, “We are delighted to have come this far with Telefónica. Since we started out at the beginning of 2009, we have become fully embedded as a partner within Telefónica’s UK business.  To say we’ve paid customers over £50 million and have contributed over £2 million to Think Big is an incredible achievement. It epitomises the hard work that has gone in from everyone at Redeem and Telefónica to make our proposition such a success.”  He continued, “It’s encouraging to see that both parties realise the strength of O2 Recycle as a unique selling proposition.

“Key changes are increasing the importance of mobile handsets’ trade-in prices. The O2 Refresh tariff launch has already increased demand for the latest technology and that will further increase with arrival of O2’s 4G network due to launch this summer. All of this means the trade-in value of handsets has become a critical part of the smartphone purchasing decision, regardless of the network. Looking forward, we will continue to innovate and drive excellence in customer experience throughout the Telefónica regions in which we operate.”

Redeem is already the UK’s fastest growing recommerce company* and the largest mobile network operators (MNO) mobile recycler in Europe, thanks to its partnership with Telefónica. In the competitive recommercemarket for used mobile handsets, Redeem has carved a niche specialising in helping MNOs attract and retain their customers. They do this by marketing high value trade-in deals for used equipment, allowing MNO customers to trade-up to the latest smartphones. Redeem also extracts the maximum value from the recycled electronic equipment for MNOs through a global network of strategic partnerships. O2 donate all the proceeds of their recycling scheme to their Think Big initiative, which supports young people and community activities.

Think Big is a major pillar in Telefónica’s outstanding overall environmental performance. Last month Telefónica was named the foremost leader in carbon management among global digital and telecommunications service providers. The company was listed 4th on the ET Europe 300* and 5th ET Global 800#.

Nicky McGroarty, head of Telefónica UK supply chain added, “Working with Redeem has been a long-standing success as their ethos and commitment to the environment and corporate responsibility is matched by their investment in innovative technology and willingness to offer added value. This approach matches our own commitment to offer the best possible experience to customers.

“As value and affordability becomes central to O2’s continued growth, Redeem, through O2 Recycle, has established a channel that can provide our customers with the opportunity to offset the cost of their new device with the trade-in value of their old device. Not only does this align with our strategy of offering customers the best possible experience but it also contributes significantly to our Think Big programmes, something that is close to everyone’s heart at O2”.

*Chartered Institute of Waste Management’s Fast 30 list
#The tables were compiled by the independent NGO: The Environmental Investment Organisation (EIO). Their Environmental Tracking Carbon Ranking series is the only public database of its kind and includes companies based on their market size, irrespective of their green credentials.