Apple will launch an iPhone trade-in program this month, according to Bloomberg, citing anonymous sources. The Cupertino, Calif.-based computer company has not officially confirmed the iPhone trade-in program, but could announce it at the WWDC conference in San Francisco next week.
According to the report, Apple has partnered with Brightstar Corp., the same company that does trade-ins for AT&T and T-Mobile, to incentivize users to turn in older iPhone models to upgrade to the iPhone 5 while profiting from the sale of refurbished iPhone 4s and 4Ss in emerging markets. AT&T’s iPhone trade-in program offers customers as much as $200 for a working iPhone 4 or 4S, allowing some to buy an iPhone 5 at no cost. Some estimates predict 20 percent of smartphone purchases will make use of a trade-in program this year.
In August 2012, Apple started a program with PowerOn to offer up to $345 in Apple Store credit for users to exchange their iPhone 4 or 4S. The difference is that this program would be available at Apple stores, allowing customers to trade-in devices on the spot.
Apple has seen stunted growth recently, and most people don’t expect Apple to unveil a new phone at the WWDC conference next week. A trade-in program could help boost sales of the iPhone 5 in markets like the U.S., where most people have a smartphone, while selling the older models to markets that demand less expensive smartphones.
Originally from Northern California, Ryan W. Neal came to New York to earn his master's in journalism from Columbia University. He joined IB Times April 2013, and is a writer...