In these following two articles, computer researchers at the University of Cambridge discovered how much and what types of data can be recovered from a factory wiped phone, even with encryption. I personally wipe a few times before sending in a phone either for repair or replacement, and always when selling. I also revoke permissions in my Google account for the old device.
Don't sell your old Android phone without first reading this | www.ajc.com
Android's Factory Reset tool still leaves sensitive data on your phone | PCWorld
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