I like to think my ethics and morals are of high regard, but at the same time, I don't immediately feel sorry for a trillion dollar company. They will miss that phone as much as I will miss a penny. Maybe less. To me, the moral dilemma would more align with selling it or not. As you mention, you would hate to see someone with a blacklisted phone. More @Wikipedia
Hover over any link to get a description of the article. Please note that search keywords are sometimes hidden within the full article and don't appear in the description or title.