Apple launches iPhone trade-in programme

[mmadhankumar]

Apple began letting US iPhone owners trade in their smartphones for credit toward buying new models.

The California company's trade-in program kicked off in the wake of unconfirmed reports of a September 10 event at which Apple will unveil new iPhones, with rumors ranging from a gold handset to a low-price version aimed at emerging markets.

"iPhones hold great value," Apple spokeswoman Amy Bessette said in an email to AFP.

"So Apple Retail Stores are launching a new program to assist customers who wish to bring in their previous-generation iPhone for reuse or recycling."

She would not specify how much Apple is paying for old iPhones, but they can fetch $300 or so depending on the model at an array of websites or US consumer electronics shops that buy handsets.

Motives for Apple's trade-in programme likely include keeping iPhone users loyal to the smartphones as well as the lucrative iTunes shop for digital music, films, and books.

"Keeping people in the fold is what it is all about," Baker said. "The question for me is whether it will be competitive with programs that already exist in the market."

Read More: Apple launches iPhone trade-in programme - The Times of India