Apple will soon be offering a trade-in program to customers to upgrade their iPhones in a bid to boost sales. According to a report by Bloomberg released yesterday, later this month Apple will be offering customers the chance to trade-in their current iPhone handsets and upgrade to a newer model.
“By offering money for older smartphones, Apple CEO Tim Cook is seeking to entice consumers to upgrade to the latest models, part of the company’s efforts to reignite sales growth and combat declining shares,” Bloomberg reports.
Sources with knowledge of the upcoming plans spoke to Bloomberg about the trade-in program that comes at a time where the market for refurbished iPhone 4 and iPhone 4S handsets is growing.
The report discusses that Apple shares have declined 38 percent from a record in September. Apple have a recycling program where customers can send in old iPhone’s, iPad’s, Mac or PC and will receive money if it is worth anything, and if not it will be recycled responsibly.
This progam also supports a semi trade-in service for users as bringing in old iPods to store will credit you with 10% off a new one. Apple and Brightstar have declined to comment on the rumoured plans.