Apple’s new program for trading in an old iPhone for credit for a new iPhone purchase has gone live at all Apple Stores today, CNBC reports.
Previously, we heard Apple was just getting the program started back in early June, but now it looks like it’s finally a go for all stores. Apple is reportedly working with Brightstar, a leader in the buy-back and trade-in space, on the program.
Essentially, the program permits a customer bring in an older iPhone and then Apple will give you between $120 and $250 in credit for the phone. With that credit, you must purchase a new iPhone and sign a two-year contract for it. The credit you get for the iPhone can’t be used on anything but another iPhone.
Apple provided this vague statement about the program to TechCrunch (we’ve reached out as well):
iPhones hold great value. So, Apple Retail Stores are launching a new program to assist customers who wish to bring in their previous-generation iPhone for reuse or recycling. In addition to helping support the environment, customers will be able to receive a credit for their returned phone that they can use toward the purchase of a new iPhone.
Apple is a little late to this space, with Brightstar competitor Gazelle and others offering cash or credit for older iPhones for years. Gazelle also offers cash or credit for iPads, MacBooks, and other big-name electronic devices.
This new program is launching slightly ahead of the next iPhone reveal. Presumably, this gives Apple Store employees and consumers a little time to find out about the program and seed it in their brains that they could trade-in their iPhone 4S or 5 when the next iPhone launches.