Apple Unveils iPhone Trade-In Program At Retail Stores
redOrbit staff & Wire Reports — Your Universe Online
Apple will launch a new program at their retail stores this month that will allow customers to trade in their older iPhones for the latest model, Bloomberg News reported on Thursday, citing sources familiar with the matter.
The retail trade-in program will be run by Brightstar Corp, the same company that currently manages comparable trade-in programs for AT&T and T-Mobile. Under AT&T’s current trade-in program, customers can exchange an iPhone 4S or iPhone 4 and receive $200, which is the price of a new 16GB iPhone 5 with a two-year service agreement.
For Apple´s program, Brightstar has agreed to only sell traded-in iPhone 4 and iPhone 4S handsets in emerging markets, ensuring that those devices won’t detract from potential iPhone 5 sales in the US, Bloomberg said. The new program will likely boost Apple’s market share in emerging markets, where the company currently lags behind rivals that sell lower-cost handsets.
Apple has offered an online-only buyback program since 2011, which is managed by PowerON. The current program marks the first time Apple will accept iPhone trade-ins at its retail locations, hundreds of which are located across the US.
Apple has seen its growth slow in recent quarters, with Samsung becoming the leading smartphone sold in the US in May. The company sold 37.4 million iPhones in the latest quarter, compared with 35.1 million a year earlier.
Apple´s stock fell 1.5 percent on Thursday, closing at $438.46.
Apple has seen its shares plunge 38 percent from their record high last September as investors grow increasingly concerned the company´s skyrocketing growth may be slowing down.