Apple is reportedly launching an iPhone trade-in program this month to encourage customers to upgrade to the latest version of their phone.
Apple has never been big on exchange programs but with Samsung eating up more of the mobile market it looks like the tech giant is willing to try a few things to grow its customer base. The exchange program will keep iPhone users with the company and will increase sales for the iPhone 5.
Roger Entner, an analyst at Recon Analytics LLC in Dedham, Massachusetts, told Bloomberg: “This will help them sell more phones, because it will lower the consumer’s out-of-pocket expense.”
The LA Times reports that Apple has teamed up with Brighstar Corp, a mobile phone distributor that already handles trade-in programs for AT&T and T-Mobile. Apple’s iPhone trade-in program will be run out of Apple stores.
Apple has not officially announced the iPhone trade-in program but the company may make an announcement on Monday. Apple will be holding a keynote event at 10 am on Monday at its Worldwide Developer Conference.
The iPhone launched in 2007 and quickly became the hottest item in the mobile market. Competition has increased since then and Apple’s growth has slowed. The exchange program will allow the company to introduced cheaper used iPhones to untapped markets while allowing iPhone users to upgrade to the latest phones.
Are you going to use Apple’s new iPhone trade-in program?