Sprint Expands Its "Buyback" Program; Customers Can Trade in Any Eligible Cell Phone, Even from Other Carriers, for Account Credit Tweet

Sprint customers can receive instant account credit for recycling up to three old cell phones.

WASHINGTON -- Sprint Nextel [NYSE: S] CEO Dan Hesse announced the launch of an expanded wireless buy-back program for wireless devices while testifying at a green telecom hearing on Capitol Hill. Sprint's expanded Buyback program, intended to boost U.S. wireless recycling rates, now offers an instant point-of-sale credit to current and new Sprint customers who turn in up to three eligible wireless devices, per active line of service. Sprint Buyback now accepts all eligible wireless devices, regardless of manufacturer or carrier, through its expanded program. Customers can take their unwanted phones to one of the more than 1,000 participating Sprint-owned retail stores nationwide. Currently, there are more than 900 wireless devices that are eligible for an instant credit from Sprint. Device credits range in value from approximately $5 to upwards of $300 depending on the make and model of the device being turned in.

"The new Sprint Buyback program will allow customers to take advantage of the current value of their unused cell phones and will reduce the number of wireless devices that end up in landfills," said Dan Hesse, Sprint CEO. "The Buyback program is another step to help us reach our ambitious goal to recover and recycle the equivalent of 90 percent of the handsets we sell by 2017. We look forward to continuously increasing our collection rates with the support of customers through the Buyback program and all of our sustainability initiatives."

A recent ABI Research Report found that of 1,000 people surveyed who had not yet recycled a handset, 98 percent were prepared to return handsets to an operator's store, to a charity, to a refurbishing company or to the manufacturer - but only in return for some compensation, either cash, store credit, or tax deduction.

Sprint's new national Buyback program gives a financial incentive for current and new Sprint subscribers to trade in any eligible cell phone, regardless of manufacturer or carrier, for point-of-sale savings. For example, a BlackBerry(R) 9700 Bold(TM) currently has a trade in value of $161.05 while an LG VX9000 Env2 has a value of $35.59. Highlights of Sprint's program include;

* Instant account credit at any of Sprint's more than 1,000 retail stores for existing and new customers who turn in up to three used devices when activating or upgrading a Sprint phone.
* 24/7 online access to sprintbuyback.com, where current and new subscribers can find the program terms and conditions, determine device eligibility for credit, estimate current market value, download free postage-paid labels, and access guidelines for deleting personal data prior to mail-in.
* For every one device purchased, up to three eligible devices may be returned to Sprint for an account credit, per 12 months. The exact account credit is based on the model and the price in place at the time the old phone is turned in. Current credit amounts are listed on the "Eligible Phone Models" tab of the program Web site.

While many phones will qualify for the Sprint Buyback program, those that do not can be donated to Sprint Project ConnectSM. Sprint Project Connect, a free wireless recycling service available to anyone, accepts all used wireless phones, batteries, accessories and data cards, regardless of carrier or condition. All net proceeds generated from the sale of equipment collected through Sprint Project Connect go to fund and promote free Internet Safety resources for kids, parents and educators. Sprint's wireless reuse and recycling programs have kept more than 19 million wireless phones out of landfills and have generated more than $7 million in charitable contributions since 2001.

Sprint's expanded Buyback program further enhances its environmental leadership in the wireless community. Sprint ranked highest among all U.S. telecom companies and #15 overall on Newsweek's Green Rankings, with a series of new environmental initiatives and green innovations. Sprint also scored highest among U.S. based wireless companies on the Carbon Disclosure Project's (CDP) 2009 Global 500 Report on carbon disclosure.

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