iPhone trade-in program

On Friday, Apple Inc. launched a trade-in program in its US retail stores for older models of its iPhone as Apple is all set to launch the new version of the smartphone.

An Apple spokesman said that Apple will give customer a credit for their old phones using which the customer can purchase a new model of iPhone. In an email to AFP the spokesman also said that “IPhones hold great value”. Apple Inc. cheap iPhone 5C seeks to lure customers with its looks and is set to throw out Siri.

On websites such as eBay and Gazelle, a booming industry exits for older version of smartphones, specifically the iPhone. All the more broken iPhones can even sell for $125 from vendors, who resell them on the US and in the other international markets.

CEO of Gazelle which is Boston-based Company providing a business platform where people can sell their used electronic devices valued the used smartphone and the tablet market in the US to be around $14 billion by 2015.

The rumors are whether Apple will move from the strategy of focusing on premium devices priced at the high-end of the market to include a lower-cost handset appealing to people with tight budgets.

According to the analysts, as the smartphone market in the US and other Western countries matures, companies may have better luck inspiring upgrades rather than just reaching out to first-time buyers.

Intention of Apple Inc. behind the Apple’s trade-in program likely include keeping iPhone users loyal to the smartphones as well as the money-spinning iTunes shop for digital music, films, and books.