Samsungs line of Galaxy Note 7 smartphones that will go down forever in history as the “exploding phones” may have a silver lining…well actually a copper, gold, palladium and platinum lining to be precise.
Samsung is recovering 157 tons’ worth of rare metals that may include copper, gold, palladium, and platinum (commonly found in mobile phones) from its recalled line.
While the recovery initiative is said to be an effort to “minimize the environmental impact” it will also help to reduce the $5.4 billion US loss it suffered as a result of the faulty phone.
In addition to the recovery efforts, Samsung also said it will reuse components for camera modules, chips, and displays as replacement parts on devices sent in for repairs or sell them.
Greenpeace has been advocating Samsung to not landfill the phones and it appears the company has listened.
While it won’t fully recover the costs, the mere mining of the cell phones let alone the recycling of components on top of this will save the company millions.
To put it into perspective, CNET suggested that one one million mobile phones could deliver nearly 16 tonnes of copper, 350kg of silver, 34kg of gold and 15kg of palladium and is roughly worth US $1,642,439.48.
Still that only equates to 16.4 Tonnes and Samsung are recovering 157 Tonnes which puts the company at recovering a rough estimate $15,724312.40 USD.