| Advertisement |
Bloomberg News reported Thursday that Apple is planning to launch a service for iPhone users to trade in their old phones for discounts.
BREAKING: Apple said to plan iPhone trade-ins for first time to add sales $AAPL
The computer company hopes that the program will inspire iPhone users to opt for its newer models, rather than wait longer to upgrade.
Advertisement
“The key is to get iPhones into as many people’s hands as possible,” an analyst explained to Bloomberg. “Selling used phones is one way to do that.”
The tech giant has already partnered with an organization to run the trade-ins -- Brightstar Corp., a cell phone distributor that already handles trade-ins for other major smartphone sellers.
According to TechCrunch, Apple has offered an online buyback program since 2012, but the new trade-in service would allow users to take their old iPhones to retail locations for an in-person discount on their new purchase.
