Apple Inc will start a program this month to allow users to
trade their older iPhones for the newest model, Bloomberg cited people familiar
with the plan as saying, a first for the company as it prepares to introduce a
new version of the smartphone.
It has teamed up with Brightstar Corp, a mobile phone
distributor that runs similar trade-in programs for carriers like AT&T Inc
and T-Mobile, to handle exchanges, Bloomberg cited the unidentified sources as
saying on Thursday.
Apple and Brightstar did not immediately return calls for
comment.
New iPhones with no wireless contract are priced starting at
$649, depending on storage size. Demand is typically strong but investors worry
that, as the U.S. market becomes increasingly saturated, smartphone purchases
will slow sharply.
A trade-in program can help bolster demand for expensive new
models, especially as arch-rival Samsung Electronics Co Ltd steps up an
aggressive push to sell its own devices in the U.S. market.
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