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Retiring Old Wireless Devices Paying Off for Firm

Helping people get rid of old wireless devices is becoming a popular business plan.

San Diego-based EcoATM has created a kiosk for people wanting to recycle their wireless phones.

Now there is Totem, which buys back tired smartphones and tablet computers. Totem operates from an office on Lusk Boulevard in Mira Mesa.

Totem announced Feb. 16 that it was putting more emphasis on business services. It said it retired 2,900 devices from an unnamed Fortune 100 business, and paid out $383,400 for them. As part of the buy-back process, Totem erased the data on the devices.

Totem says it refurbishes, resells and recycles the electronics that it handles in an environmentally friendly fashion.

Totem’s investors launched the business in 2009. The company, led by CEO Nicholas Fiorentino, reported making a profit in October.

— Brad Graves

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