According to Cook, Apple saw an all-time record response to the company's trade-in promotions, and Apple saw more than four times the number of trade-ins from the year-ago quarter.
When asked which devices people are trading in, Cook said that it's "all over the place." iPhone 6, 6 Plus, 7, 7 Plus, and fewer 8 and 8 Plus models. Some customers, he says, are on a two-year upgrade cycle, some on a one-year upgrade cycle, and some on three or four year cycles.
Cook said that Apple is aiming to offer better than average trade-in values to provide "extra benefits" to iPhone users.
In our stores we offer a trade-in value that is more than the blue book of the device, for lack of a better description. And so we have topped those up to provide extra benefit to the user.
Apple in November began offering a limited-time promotion that provided up to $100 in additional credit when trading in an iPhone. The program allowed customers to buy a new iPhone XR, XS, or XS Max at a more heavily discounted price when trading in an older device.
Apple is no longer running that specific program, but the trade-in page continues to promote new iPhone pricing that's available when trading in an old iPhone and Apple's prices are better than most other trade-in programs for the iPhone.