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Apple to activate Chinese iPhone trade-in program in March with backing from Foxconn

A report on Wednesday claims Apple is primed to roll out an iPhone trade-in program in China that will let customers sell back old equipment to Foxconn in return for store credit.

Citing sources close to the matter, Bloomberg reports Apple customers in China will soon be able to trade-in their old iPhones for credit toward a new device. The introduction is in part thanks to the success of a similar U.S. program , the report said.

Whereas Brightstar provides backend resale support for Apple's U.S. trade-in initiative, Foxconn is slated to handle the Chinese version. Unlike its U.S. counterpart, Apple's Chinese trade-in program only applies to iPhones.

As part of the deal, Apple Store employees will evaluate the condition of incoming iPhones before selling the hardware directly to Foxconn, meaning Apple never takes ownership trade-in products.

Following Apple's inspection, Foxconn will repair and resell devices through its websites eFeihu and FLNet, as well as Alibaba's Taobao store. The Taiwan-based company is currently in talks to sell refurbished Apple hardware in physical stores.

In the future, Foxconn may process online trade-ins, much like Apple's U.S. program

Most recently, rumors suggest Apple is planning to expand its Reuse and Recycling Program to non-Apple products, a move that could lure over smartphone owners using equipment running Google's Android.