An iPhone trade-in program will be implemented by the technology behemoth as it gears up to launch the next generation of iPhone devices. It used to be that iPhone fanatics would go to third-party sites such as Gazelle to sell their current iPhones before buying the newest iteration, but now Apple is taking things into their own hands with their own in-house iPhone trade-in program!
According to Bloomberg News, Apple plans to launch a new iPhone trade-in program at Apple stores. The initiative is reportedly the product of a partnership with mobile phone distributor Brightstar. The iPhone trade-in service is relatively self-explanatory, as it simply allows current iPhone owners to trade in their current devices for a discount on a new phone. The program may be in its final stages of tweaking, however, because when ABC News reached out to Apple for comment upon the release of the Bloomberg report, they had no comment.
Apple's in-house iPhone trade-in program may be an attempt to curb competition from third-party services providers such as Gazelle, who has managed to build a $1 million business on Apple product trade-ins. Although the website does not disclose how much their profit is from Apple product/iPhone trade-ins, they say they received 1.2 million price quotes for iPhones from people who were thinking of selling their phones prior to the launch. One would think that Gazelle would be dreading Apple's intrusion into the service for fear of monopolization, but Gazelle CEO Israel Ganot is looking forward to the brand taking the step.
"The biggest challenge for us has been to change consumer behavior. It will be great to see Apple jumping into [the business of iPhone trade-ins]," Ganot told ABC News. "We expect them to put the brand and marketing behind it and lift consumer adoption. There is insatiable demand there. The average consumer can't buy the brand-new iPhone. The phones we bring to [the Asian and Latin American] markets are much more affordable."
The closest thing to an iPhone trade-in program that Apple provides right now is a recycling program - but it only offers a 10 percent discount on iPod trade-ins. At this time, it is unclear as to when the iPhone trade-in program will launch, and if it will simply be at participating Apple store locations or if it will be adopted as a universal service.