The in-store recycling program allows customers to trade-in an older iPhone model and immediately receive a gift card up to $275 towards the purchase of a new iPhone. The program encourages customers to responsibly recycle their old iPhones instead of throwing them away. SellCell estimates customers are storing and not recycling approximately $13.4 billion in unused iPhones.
This in-store iPhone recycling program debuted in the U.S. last summer and was expanded to include the UK a few months later. Apple also offers a mail-in recycling program that requires customers to send in their iPhone before receiving a credit. Customers may receive more money for their iPhone via the mail-in program, but they lose the convenience of a no-hassle credit that's immediately available to spend on a new phone.