Apple rumored to be planning iPhone trade-in programAlex Wagner - Editorial Director of News and Content
Well, this is interesting. According to a report from Bloomberg, Apple may be planning to allow consumers to trade in their iPhones in an attempt to boost its sales. Details of Apple's trade-in program are light right now, but the Cupertino firm would likely give its users a way to sell their existing iPhone back to Apple in exchange for a credit that could be put toward a newer model.
As noted by The Verge, Apple currently partners with a company called PowerON to offer a recycling program that offers users an Apple Store gift card in exchange for the fair market value of the traded-in hardware. Bloomberg's sources claim that Apple will be working on this new trade-in effort with BrightStar, a firm that already works with AT&T and T-Mobile. Apple's new program is expected to differ from its existing one by only accepting trade-ins at its retail stores, allowing customers to instantly receive their credit and avoid having to ship the unit to Apple.
When it comes time to upgrade to a new device, there are several ways to dispose of existing hardware. Options like Craigslist and eBay are popular among frequent upgraders, as are services like Swappa. Consumers also have the option of trading in their hardware to Gazelle, Best Buy or some other entity. The amount that users receive from these various services and companies can vary, typically with consumers getting slightly less for their devices with the easier trade-in methods.
It remains to be seen exactly how much credit Apple might give users for their iPhones with this new trade-in program, but it certainly sounds like it could be a quick and easy way for consumers to get something for their old iPhone when upgrading to a new model. When it comes time for you to upgrade to a new phone or tablet, what do you do with your old hardware?