Apple Ups Trade-In Value For Old iPhones

Apple Upping Trade-In Value for Old iPhones

In a rare move for the tech giant, Apple is offering up to a $500 credit for customers who trade in their old phones for the new iPhone XR or iPhone XS.

The company does not generally offer a lot of discounts or credits on any of its products, not even during big holiday shopping periods, according to a report from Fortune, so the move is eye-opening in the tech industry.

The credit varies depending on the model of phone that is traded in. For example, an iPhone 6 that normally gets a $75 credit will get $150. An iPhone 6 Plus will jump from $150 to $250. The trade-in for the 8, though, is a smaller credit, from $275 to $300.

The company has created an easy way for customers to appraise the value of a trade-in with a simple questionnaire. The company first asks for the maker and model of the phone. The next questions are about the phone’s condition (whether it turns on) and whether it’s in good shape and the screen is undamaged.

After the customer fills out the questions, Apple gives an estimated dollar amount for the trade-in, pending verification of the serial number and the purchase of a new phone. The credit is applied after Apple receives and inspects the device.

Notably, Apple also accepts trade-ins of Google, Samsung and other brands.

The new phones cost between $750 and $1,500 out of the box. Demand for the phones has been slow, and Apple recently cut the price of the phone in Japan.

Apple also cut production orders for all three of its new phone models in September. Some analysts think releasing three phones at once made it difficult for the company to gauge how many units were necessary to satiate customer needs.

That production cut started a domino effect, resulting in an earnings report that disappointed investors and dropped the expected sales forecast for Q4, which is usually Apple’s strongest sales period of the year.

Apple said the trade-in credit is only available for a limited time, but it didn’t specify how long it would offer the incentive.