Dive Summary:
- According to details released by Apple Insider, Apple is beginning to train in-store staff members for the rumored Apple iPhone buyback program ahead of its initial launch.
- Gift cards which would be given to customers in exchange for used iPhones must be used towards a new iPhone model. Apple could formally announce the new program on Sept. 10.
- "The reason that [a trade-in program] is so attractive around an iPhone … is that the residual value of an iPhone stays so high. That makes the trade-in programs a win-win from many points of view. But we haven't announced anything,” says Apple CEO Tim Cook.
From the article:
According to prior reports, Apple's trade-in program would be run by Brightstar Corp., the same company that handles trade-in programs for AT&T and T-Mobile. Brightstar would take the traded models and resell them in emerging markets, ensuring that those devices wouldn't cannibalize Apple's sales in the United States.
