Apple To Partner With Foxconn For Lucrative iPhone Trade-In Program In China

Flying high on the success of its iPhone trade-in program in the U.S., Apple is reportedly going to introduce a similar incentive in the China with the help of Foxconn. Beginning March 31, owners of older iPhone models will be able to trade their devices in at Apple Store locations in China and receive credit for the company's products.

Apple isn't getting into the used phone business, though Foxconn is more than happy to purchase the traded-in models and flip them back to consumers who might not be interested in or able to afford a shiny new flagship model.

iPhone 4S

As they're accustomed to doing, Apple and Foxconn will work closely on the program (Foxconn is Apple's main supplier of iPhones and other electronics). Retail workers will determine each iPhone's condition that is traded in before offering store credit. If the consumer accepts the offer, Foxconn will make the purchase without Apple taking ownership.

Foxconn will also repair the devices, if required. It will then re-sell the handsets though its online stores, eFeihu and FLNet, and also through Alibaba Group Holding's online shop, Taobao. Down the line, Foxconn would like to expand its operations into physical stores, and is also toying with the idea of implementing the trade-in program online.