Apple is reportedly going to start a trade-in program for old iPhones.
Basically, if you show up at an Apple store with iPhone 4S, Apple will hand you cash for that phone to get you to buy an iPhone 5. This is good for users, and obviously, it’s good for Apple if more people are able to afford new iPhones. It can also take those used phones and sell them in places like China.
Most people don’t trade in their old smartphones, according to Gazelle, a startup that does electronics trade-ins. As you can see in this chart, 82% of people either put their old phones in a drawer, or give them away to a friend.
Apple’s trade-in program for the iPhone should change that. If you’re showing up at an Apple store with an old iPhone, it’s going to be super easy to sell that old iPhone to Apple and get a few extra bucks to put towards a new iPhone purchase. Frankly, it’s weird Apple is just doing this now.
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