(Reuters) – Apple Inc (AAPL.O) 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 (EBAY.O) 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.
- Apple Internal Debate on iPhone 5 Trade-in Value (econmatters.com)
- Apple’s Plastic, Cheap iPhone..That You Won’t Be Allowed to Buy (newiphoneupdates.wordpress.com)
- Apple to Launch iPhone Trade-in Program August 30 (pc-tablet.com)
- Rumor has Apple mulling iPhone trade-in plan (nbcnews.com)