According to a report fromBloomberg Apple (AAPL) may begin a trade-in program for older iPhones in its stores. The idea behind the program is to get older iPhones users to upgrade to newer models, and is part of the company’s efforts to reignite sales growth and combat declining shares.
This is not the first time Apple has offered a trade-in service. The company offered trade-ins in advance of the launch of its iPhone 5, in exchange for gift cards.
Apple has historically stayed away from the refurbished iPhone market but with growth slowing in recent quarters, things may be about to change.
Apple shares have declined 38 percent from a record in September, weighed down by investor concerns that the company’s era of rapid growth, fueled by the 2007 debut of the iPhone, may be over.
Old iPhones are very much in demand and companies such as, game stop, Best Buy and others accept trade-ins of older Apple phones in exchange for cash and/or store credit.
Apple has declined comment on the report. Apple (AAPL) shares closed up $3.35 to $441.81 on Friday
Disclosure: At the time of this writing, Don Miller had no position in any of the equities mentioned.


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