As iPhone 5S launch nears, Apple rolls out trade-in program in US
Apple Inc has launched a trade-in program in its US 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 Inc has launched a trade-in program in its US 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.
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Apple's iPhone 5 is seen in this file photo. Getty Images[/caption]
Gazelle Chief Executive Israel Ganot estimated the used smartphone and tablet market in the United States will reach $14 billion by 2015.
More from News Analysis"So there's obviously a huge opportunity here for multiple players," he said.
Apple shares dipped nearly 1 percent to $487.46.
Reuters
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