A US-based company has developed a fully automated phone recycler that returns instant cash equivalent to the value of old cellphones, iPods and MP3 Players device fed into it.

Named ecoATM, the machine automatically values the portable CE device or handset inserted into it, 'bins' it inside, and returns to the user trade-up coupon, gift card, cash, and/or charitable contribution.

The machine will soon be launched at various locations across the US.