We’ve been hearing rumors surrounding Apple’s possible launch of an iPhone trade-in program for quite some time now with the latest rumor pegging its release to occur some time next month. It looks like the sources behind that prediction were slightly off as Apple has just announced they have indeed launched their trade-in program starting today.
Apple’s new trade-in program will allow customers with older models of its iPhone to trade up to a newer iPhone as they would receive credit for their old iPhone towards the purchase of a new one. The program launched across Apple’s U.S. retail stores, although at this time, it’s unknown whether or not Apple will roll its trade-in program to additional markets.
For several years now, a number of companies have popped up that specialize in allowing its customers to be able to trade in their smartphone, tablets and even phablets for cash. What these customers do with that cash is up to them, but I can tell you from previous experience that whatever money I receive for a trade in is always used towards paying for a brand-new one. With Apple launching its own trade-in program, the company can potentially recoup much of its costs since it can just resell traded in iPhones, that is, as long as they’re in working order.