Kevin Bostic
Apple has confirmed long-suspected rumors that it has been developing an iPhone trade-in program to be based out of its retail locations, saying that that program will begin rolling out nationwide today.
Rumors of the program surfaced in June of this year, and CNBC technology correspondent Jon Fortt reported that Apple had confirmed the program's existence, as well as its Friday launch. The program will see Apple Store customers able to trade-in an older model iPhone for store credit toward the purchase of a new model.
Notably, the program appears designed to keep current iPhone owners within the iPhone ecosystem. CNBC confirmed that "customer[s] must leave [the] store with [a] new contract" in order to take part in the program.
Shortly after news of Apple's confirmation broke, The Wall Street Journal reported that the highest value a customer can receive for a trade-in will be $280.
The confirmation aligns with previous claims as to the program's nature. Those claims had customers being given a gift card for the value of their trade-in with the requirement that that gift card be used toward the purchase of a new iPhone model.
Further, the gift card is only usable is the purchaser is eligible for a phone upgrade from their selected carrier. Any leftover value can be used for other retail store purchases.
Apple is launching the trade-in program only about a week and a half before it is expected to unveil the next iteration of its bestselling smartphone. A rumored September 10 media event may well see the introduction of both a high-end and low-end model of the new iPhone, and having a trade-in program up and running would likely help draw current iPhone owners back into Apple's retail stores to grab the newest generation.
Prior reports had the trade-in company being run by Brightstar Corp., the same company that handles trade-ins for AT&T and T-Mobile. Previously, it was expected that Brightstar would resell the units in emerging markets, though some have since disputed such claims.
Apple is not the only firm offering discounts for iPhone trade-ins. Best Buy has its own program going on for Labor Day weekend. That program will see the electronics retailer offering 50 percent off of the on-contract price of an iPhone 5 in exchange for working iPhone 4 and iPhone 4S models.
Charles Martin
Christine McKee
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44 Comments
Why are things sometimes crossed thru in AI articles. Is it stuff that turned out not to be accurate or something else?
"Apple confirms trade-in program [I]as Apple continues to be doomed[/I]." There. Fixed that headline for ya :)
From the Apple rumor site that "shall not be linked" from 9to5: "The new iPhone must be purchased during that same transaction and it must be an activated phone on a contract. Apple and BrightStar will create a trade-in-value for the old iPhone based on screen quality, overall hardware quality, button quality, and based off the device having or not having liquid damage. The traded-in iPhone will be packaged in a plastic bag and shipped to BrightStar for recycling in the United States. Customers who bring in a damaged iPhone to the Genius Bar may be encouraged to simply trade-up to a new version of the device. The iPhone trade-in values will consistently fluctuate based on supply and demand, but we’re currently hearing an average of about a $250-$253 value for a 16GB iPhone 5 in good condition. A GSM 8GB iPhone 4 will be worth between $120 and $140, while the CDMA version will be worth around $80."
From the Apple rumor site that "shall not be linked" from 9to5:
"The new iPhone must be purchased during that same transaction and it must be an activated phone on a contract. Apple and BrightStar will create a trade-in-value for the old iPhone based on screen quality, overall hardware quality, button quality, and based off the device having or not having liquid damage.
The traded-in iPhone will be packaged in a plastic bag and shipped to BrightStar for recycling in the United States.
Customers who bring in a damaged iPhone to the Genius Bar may be encouraged to simply trade-up to a new version of the device.
The iPhone trade-in values will consistently fluctuate based on supply and demand, but we’re currently hearing an average of about a $250-$253 value for a 16GB iPhone 5 in good condition. A GSM 8GB iPhone 4 will be worth between $120 and $140, while the CDMA version will be worth around $80."
This makes the whole thing sound like a complete waste of time. I don't know why they bother.
All these restrictions combined with the low prices they offer make it just a way of stealing business from those little phone booths in the malls, which is I guess the point, but still ...
Anyone who actually owns their phone, and anyone who actually wants to get real value for the old phone before they buy a new one is not going to avail themselves of this "opportunity."
Why are things sometimes crossed thru in AI articles. Is it stuff that turned out not to be accurate or something else?
Even I wonder why they do this?