If you own an older iPhone, Apple will pay more money than usual if you trade it in—but there's a catch. You'll need to upgrade to an iPhone XS, iPhone XS Max, or iPhone XR.

The new promotion will net users more than Apple typically pays for older devices, making the deal a nice prelude to the busy holiday period.

Here's how the new trade-in values break down:

  • iPhone 6 is worth $150, up from $75
  • iPhone 6 Plus is worth $200, up from $100
  • iPhone 6S is also worth $200, up from $100
  • iPhone 6S Plus is worth $250, up from $150
  • iPhone 7 is worth $250, up from $175
  • iPhone 7 Plus is worth $300, barely up from $250
  • iPhone 8 is also worth $300, up from $250

There have been multiple reports over the past few weeks claiming that demand for Apple's 2018 iPhone models is lower than expected. This could be Apple's way of increasing demand among iPhone users who didn't plan to upgrade this year.

According to The Verge, the new trade-in prices will be offered by Apple through early 2019.