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Journalism of Courage
Apple Inc has launched a trade-in program in its US retail stores for older models of its iPhone as it gears up for the launch of a new version of the smartphone,it said on Friday.
Apple will give customers a credit for their old phones to be used toward the purchase of a new model,an Apple spokeswoman said.
Apple Inc.’s ‘cheap’ iPhone 5C set to banish Siri,go plastic,but seeks to lure with looks
A thriving industry exists for older versions of smartphones,especially the iPhone,on websites such as eBay and Gazelle. Even broken iPhones can fetch as much as $125 from vendors,who resell them in the United States and internationally.
Gazelle Chief Executive Israel Ganot estimated the used smartphone and tablet market in the United States will reach $14 billion by 2015.
“So there’s obviously a huge opportunity here for multiple players,” he said.
Apple shares dipped nearly 1 per cent to $487.46.
