Mobyko.com, an independent mobile to web solutions company has unveiled its online calculator, which it calls the 'Mobilator,' designed to show how much money is tied up in a user's mobile phone.
Professor of Applied Mathematics Frank Smith, University College London (UCL) and Post-Doctorial researcher Andrew Ellis developed the formula jointly with Mobyko to put a monetary value on all mobile content including; contacts, texts, photos, videos, music and games.
Often the monetary value inside mobiles accounts for more than the handset
itself and is often unprotected and vulnerable to loss.
One thing that the Mobyko formula cannot estimate is the emotional value that a text or contact may hold for the owner, the company said.
Recent advances have transformed mobile phones into small portable computers
that manage and organise our lives on a daily basis.
Now for the first time the public can put a monetary value on the important stuff inside their phone.
'Only recently have people started to carry around so much personal information and entertainment content with them. Mobiles have become a digital treasure trove and we need to be made aware of their true value, it's not just about the glossy handset,' UCL's Smith said.
Commenting on the study Julian Saunders, founder and CEO, Mobyko; said: 'Our Mobilator shows people just how much their mobile content is worth.'