Apple Expected to Launch iPhone Trade-In Program in September
Customers haven't been able to do that before, but starting next month, Apple will take trade-ins of old iPhone models towards the purchase of a new one. Apple stores have begun trailing employees on how the process works, and a select few are already piloting the program.
According to TechCrunch, the way it works is you must have a functioning iPhone with no liquid damage. An employee will evaluate your trade-in using an EasyPay terminal, a fancy name for an iPod touch with a credit card reader attached. He or she will ask you a series of questions about the condition of your iPhone, all of which will determine the device's value.
At present, values are said to range from around $120 to $200 for a 16GB iPhone 4/4S, while a 16GB iPhone 5 fetches around $250. These values are less than some third-party trade-in companies, but the convenience of getting it done in-store rather than mailing a phone off and waiting will undoubtedly attract an audience.