GTSO: iPad Mini Launch to Result in Tablet Recycling Boom
SAN JOSE, Calif.--(BUSINESS WIRE)-- Apple (NAS: AAPL) won't be the only company profiting from the launch of its new iPad Mini tablet. Green Technology Solutions, Inc. (OTCBB: GTSO) and other e-waste recyclers are preparing for a massive boom in tablet recycling as consumers sell their older iPads to subsidize the new one.
Anthony Scarsella, chief gadget officer of e-cycling industry leader Gazelle, told Computerworld on Monday that tablet trade-in volume doubled in a single day when rumors of the iPad Mini entering production began to swirl in mid-September. Trade-in quote requests increased 320% over the previous week after Tuesday's Apple event was announced on October 16th.
Those requests aren't limited to old iPads, either—consumers are trading in tablets made by Google (NAS: GOOG) and Amazon (NAS: AMZN) , too. Recyclers like Gazelle are paying consumers big bucks for their unwanted tablets because of the fast-rising value of metals. Precious elements such as gold, lithium, and neodymium which are used in production of the gadgets command a hefty sum.
"We've seen this same situation before, in the smartphone market," said GTSO CEO Paul Watson. "Consumers are happy to sell their old iPhones in order to help pay for the newest model. On average, consumers replace their phones every 18 months. We could be entering a period in which the same can be said for tablet computers."
That could mean big business for e-waste recyclers like GTSO. Last month, the company's mining subsidiary, GTSO Resources, signed a letter of intent to acquire Global Cell Buyers, an emerging U.S.-based e-waste recycling company, in a move that could allow GTSO to optimize recovery of pricey minerals from smartphones, tablets and other electronics.
The two companies are currently finalizing a purchase agreement.
E-cycling, also known as urban mining, is a major pillar of GTSO's plans to compete in the increasingly lucrative global minerals sector. For more information on these initiatives, please visit www.GTSOResources.com/investors.html.
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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