So what do you do with your old mobile phone, stash it away in a drawer and forget about it or do you recycle? Well at CES 2012 in Las Vegas EcoATM was there to show off their Eco ATM recycling machine, a device that checks out your handset and then delivers a quote for recycling your old phone.

According to an article over on Gadgets, when you place your old mobile phone into the EcoATM, the cupboard-sized machine will give you a price quote based on what hundreds of electronics recycling companies would pay for the device, and if you accept it will spit out the cash there and then.

The EcoATM has a large touch screen along with a metal depository where you place the handset and snaps images of the device to find out what condition it is in and has numerous cables so you can connect the device so the machine can check whether the phones internals are in working order.

According to company founder Bill Bowles who demonstrated the EcoATM, a Verizon iPhone 4 can net you $221 as a recyclable value, although older devices may not be worth reselling the EcoATM will take it off your hands anyway and give you a buck.

Apparently there are approximately 50 EcoATM machines out there right now, apparently mostly in malls and grocery stores in California, but the company expects to have roughly 500 EcoATM machines deployed by the end of the year.

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