An increasing number of retailers are looking to buy back your old technology in exchange for cash or store credit.

Customers have gotten into the habit of upgrading their hardware every year or two, which leaves a lot of ‘old’ phones uselessly sitting in a drawer. Retailers are encouraging people to sell back their hardware to get a fraction of the original price back. The cash or store credit amount depends on how old the device is, its condition and how in demand it still is, reports CNN. AT&T, Verizon, Sprint, or even Best Buy are getting into this lucrative market which allows them to either refurbish the gadgets and resell them in the United States, or team up with overseas resellers and get them to markets where people are not as concerned about paying a lot of money for the latest gadgets.

There is increased competition between retailers to get people’s trade-ins. Some companies such as AT&T, Verizon, and Sprint even began taking in mobile phones from other carriers.  Since it began its trade-in program in 2001, Sprint has taken in over 23 million phones and since it began accepting phones from other carriers, its trade-ins increased a 100 percent from the year before. AT&T CEO Dave Stritzinger tells CNN, “It’s a great way to say, ‘Hey, we’re sorry you’re on our competitor’s network. Bring that phone in, and we’ll give you some money for that.’ ”

Best Buy also recently got into the trade-in market but instead of just targeting mobile phones, customers can bring in TVs, laptops, and tablets. The way it works is that when purchasing electronics, a customer can choose to pay $60 to participate in the Buyback program which allows them to bring back their device for up to 4 years for TVs and 2 for everything else and get store credit. The amount received decreases every 6 months, and the maximum one can get is 50 percent after 6 months, and since most people are unlikely to upgrade a mere  6 months after purchase, this program doesn’t really seem to benefit the customer.

Want to get the best value for your old electronics? Selling on Amazon puts you in control and helps you rake in cash for stuff you don’t need anymore.