Apple has officially confirmed that it is launching its iPhone trade-in program today at its U.S. retail stores, according to a Tweet from CNBC's Jon Fortt. While a number of details on the program have leaked over the past few months, today's statement is the first public confirmation by Apple that the program exists.
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Under the program, users can receive a gift card in exchange for their older devices, although the gift card must immediately be used toward the purchase of a new iPhone. Trade-in values are based on a number of criteria, including model and capacity and physical condition.
The trade-in program launches less than two weeks before Apple is expected to introduce its next-generation iPhones at a media event on September 10. Rumors and speculation indicate that the new iPhones could be available in the U.S. and other first-wave markets beginning on Friday, September 20.
Update: More details are coming out about the trade-in program. Apple is calling it a "reuse and recycling" program and trade-ins for working iPhone 4 and 4S devices ranging from $120 to $250, according to TechCrunch. Customers must use the money to purchase a new on-contract phone.
Apple provided this statement to TechCrunch regarding the new program:
iPhones hold great value. So, Apple Retail Stores are launching a new program to assist customers who wish to bring in their previous-generation iPhone for reuse or recycling. In addition to helping support the environment, customers will be able to receive a credit for their returned phone that they can use toward the purchase of a new iPhone.
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50% off the subsidized price. So they give you $100 for your $450 iPhone 4.
A few hundred pounds eh? I'm not saying you're wrong, but on average, I've been seeing 16GB 4S's go for $215-$250 on eBay. On Gazelle, it's $175 as a previous poster said. So $40-$75 difference isn't anything to scoff at, but maybe things are different across the pond. A few hundred pounds would be like $300-$400!
the Beat Buy deal is UP TO 50% OFF