A rumor is circulating that Apple is set to launch an iPhone trade-in program this month in its Apple retail stores around the country. According to sources who claim to have knowledge of the situation, Apple hopes that the iPhone trade-in program will get users to upgrade to the iPhone 5. While the iPhone 5 has been popular, it hasn’t sold in quantities that Apple wanted to see.
The tip comes from sources who claim to be familiar with Apple’s plans, but didn’t want to be identified because Apple isn’t yet talking about its plans. There’s some indication that any older iPhone models traded in at Apple stores on the new iPhone 5 will eventually be refurbished and find their way to emerging markets.
It’s unclear at this point exactly how much money Apple will offer for people who trade in older versions of the iPhone. However, the payouts are expected to be on par with some of the other companies out there who are giving customers money for older versions of the iPhone. For instance, AT&T is paying as much as $200 for working iPhone 4 and 4S smartphones. Statistics predict that about 20% of consumers in the US who buy a smartphone this year will use a trade-in program to save money.