GTSO: iPhone 5 Release Could Mean Billion-Dollar Windfall for E-Waste Recyclers
SAN JOSE, Calif.--(BUSINESS WIRE)-- Green Technology Resources, Inc. (OTCBB: GTSO) believes that the impending release this month of Apple's (NAS: AAPL) new iPhone 5 could spark a major economic boost far beyond your local Apple Store. The coveted smartphone could also lead to a windfall of obsolete phones for e-waste recyclers.
Last week, Apple announced plans to launch the iPhone 5 in nine countries on September 21, and top market analysts immediately began crunching numbers. The smartphones are famous for their huge debuts. The iPhone 4 sold around 113,000 units a day worldwide upon release and the iPhone 4S about 191,000. Horace Dediu, an independent analyst at Asymco, estimated that Apple's latest smartphone could sell a total of 220,000 per day for a total of more than 6 million units around the globe on launch weekend alone.
J.P. Morgan's equity analysts expect Apple to sell about 8 million iPhone 5 units in the final three months of the year.
Nearly all of those new phones will replace an older model, many of which will end up in the trash or in the back of a drawer. But the rare minerals inside these now-obsolete phones still have value, and companies such as GTSO's mining subsidiary, GTSO Resources, are working to capitalize on this growing supply of unwanted wealth.
Earlier this month, GTSO Resources signed a letter of intent to acquire Global Cell Buyers, an emerging U.S.-based e-waste recycling company, a move that could potentially allow GTSO to optimize recovery of lithium, gold, neodymium, rare earths and other valuable materials from unwanted cell phones. The company is in talks with a leading e-waste recycler in Latin America, as well.
Due in part to the rapid obsolescence cycle of modern smartphones, the global e-waste recycling market is predicted by some analysts to grow to $1.86 billion by 2017. GTSO has plans to grow right alongside the rapidly expanding industry, and is aggressively targeting new partnerships and acquisitions that will increase its footprint in the sector.
For more information on these initiatives, please visit www.GTSOResources.com/investors.html.
Urban mining is a major pillar of GTSO's plans to compete alongside major international corporations striving for sustainable manufacturing solutions, such as Sprint Nextel Corp. (NYS: S) and Toyota Motor Corporation (NYS: TM) . The company is also exploring traditional mining opportunities in the U.S. and Africa through its joint venture with Diamond V Associates.
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc. [www.gtsoresources.com] is a growth-oriented company exploring rare earth minerals and precious metals production around the world. To learn more, please visit our website at www.GTSOresources.com/investors.html.
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Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Green Technology Solutions, Inc.
Paul Watson, 408-432-7285
President and CEO
KEYWORDS: United States North America California
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