Yesterday we covered a report that said Apple was going to launch a new iPhone trade-in program next month. The program would allow Apple customers to bring an older iPhone into an Apple Store location to trade it in toward the purchase of a new device. Today, TechCrunch said that it has learned a few stores are already piloting the program.
Anyone with an older device can head to one of a few locations currently testing the service (the locations weren’t named), and receive store credit for their phone. It works similar to how Best Buy, Amazon and trade-in services from carriers work, though Apple’s goal is obviously to keep you in their store and buying products directly from them – not other outlets. As with all programs, the value of your old iPhone will depend on its condition and whether or not it is damaged or working perfectly. Apparently an iPhone 4 or iPhone 4S in great condition is worth up to $200. In most cases you might actually be better off selling one on eBay. An iPhone 5 could fetch you $250, for example, though we’ve seen them sell on eBay for more than $400.
Apple apparently issues a gift card for your old iPhone, which means you could technically spend the money on other Apple products instead of a new device. The company is apparently not reselling the devices as refurbished phones in the United States, so we’re not sure exactly where they are ending up, though there has to be some sort of business strategy for Apple to continue making money off of old phones.
We assume Apple will announce the trade-in program publicly soon, possibly during its rumored event on Sept. 10.