Now, recycling your old iPhone5 will fetch a lot less than what it did last year, according to the latest tweak by Apple Inc. (NASDAQ:AAPL) to its “Reuse and Recycling Program.”
The company on Tuesday reduced trade-in values for its iPhone recycling program in the U.S. and Canada, and will now offer a maximum recycling price of $225, which is down from $270 advertised on Apple's website Monday, Apple Insider reported, citing iPhone in Canada, an Apple-oriented news website that first spotted the change.
Although Apple has cut its advertised in-store trade-in pricing, the company’s “Reuse and Recycling” site still shows an exchange value of $255 for some iPhone 5 units in good condition.
And, both online and physical stores should use the same trade-in values, because Apple outsources its recycling program to a third-party seller, Apple Insider reported.
The latest trade-in value is significantly less than what Apple offered in its previous recycling programs. The company offered as much as $345 in 2012 for the iPhone 4S, which was the company’s newest smartphone model at the time.
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And with the much-awaited launch of the next-generation iPhone, dubbed the iPhone 6, in mid-September, Apple is likely to soon begin accepting trade-in offers for the iPhone 5s.
Apple first rolled out its recycling program in 2011 in partnership with PowerON, a California-based recycling contractor, and since then, the company’s recycling efforts have expanded to other countries such as the UK, France and Germany, Apple Insider reported.
In April, Apple announced that it would offer free recycling of used devices at all its retail stores worldwide. The company also intends to power all its company stores, offices and data centers with renewable energy.