CHART OF THE DAY: What Happens To Old Smartphones

What happens to old smartphones when they're no longer being used? They just sit around, for the most part.

That's according to a survey by Gazelle, a site that takes trade-ins of old smartphones, tablets and laptops. As you can see in this chart, 51% of people put old smartphones in a drawer or closet, according to Gazelle's research.

MarketWatch estimates that all of those old phones sitting around are worth $34 billion. (That's all phones, not just smartphones.) Companies like Gazelle are trying to get people to sell their smartphones to Gazelle, so it can resell the phones around the world and make a nice profit.