Apple Begins iPhone Trade-In Program
Apple has introduced a long anticipated trade-in program for their popular iPhone, according to the Wall Street Journal. The program will not only encourage loyalty among customers, but allows the tech giant to compete in direct sales against major retailers who already offered similar programs.
The Cupertino, Calif. tech giant said its “reuse and recycling” program emphasizes the value of iPhones, even after they’ve been used.
“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,” a company spokeswoman said.
It’s unclear exactly how the reuse and recycling program relates to purchasing a new iPhone, expected to be released this month and called the iPhone 5S. According to Apple’s website, the company will offer an Apple Store Gift Card for usable devices. But other sites report that certain values will only be offered if the customer is exchanging the phone for a new, upgraded device.
Both approaches would assure that the customer would continue to buy from Apple, and would incentivize them to continue as an iPhone user.
Retailers like BestBuy and carrier stores (Verizon, AT&T) already offered trade-in programs, and some websites like eBay or Gazelle even gave cash for phones. Users can even get cash for phones at some automated kiosks in malls. The Apple program will reportedly offer up to $280 for a like-new iPhone 5, while Gazelle might offer $350 for it.
What do you think? Will Apple’s program beat out competitors’?