Apple rolls out iPhone trade-in program in U.S. stores

SAN FRANCISCO Fri Aug 30, 2013 2:37pm EDT

iPhone 5 models are pictured on display at an Apple Store in Pasadena, California July 22, 2013. REUTERS/Mario Anzuoni

iPhone 5 models are pictured on display at an Apple Store in Pasadena, California July 22, 2013.

Credit: Reuters/Mario Anzuoni

Related Topics

SAN FRANCISCO (Reuters) - Apple Inc has launched a trade-in program in its U.S. retail stores for older models of its iPhone as it gears up for the launch of a new version of the smartphone, it said on Friday.

Apple will give customers a credit for their old phones to be used toward the purchase of a new model, an Apple spokeswoman said.

A thriving industry exists for older versions of smartphones, especially the iPhone, on websites such as eBay and Gazelle. Even broken iPhones can fetch as much as $125 from vendors, who resell them in the United States and internationally.

Gazelle Chief Executive Israel Ganot estimated the used smartphone and tablet market in the United States will reach $14 billion by 2015.

"So there's obviously a huge opportunity here for multiple players," he said.

Apple shares dipped nearly 1 percent to $487.46.

(Reporting by Poornima Gupta; Editing by Jeffrey Benkoe)

FILED UNDER:
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (1)
AlkalineState wrote:
NRA rolls out exchange program. You give up access to information and data, they give you a free gun.

Aug 30, 2013 3:52pm EDT  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.