Could Your Old iPhone Be Worth Big Bucks?

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Could Your Old iPhone Be Worth Big Bucks?

by Bob Marsico on September 6, 2013

Apple Inc. is scheduled to introduce two new iPhone models this month. To offset the cost of a new device, the company is also introducing a highly anticipated new trade-in program.

According to The Los Angeles Times, Apple will accept older generation phones that still work well and have not suffered any water damage. Depending on the phone's model and age, store employees will provide a credit from $120 to $250, which must be immediately applied to the purchase of a new iPhone. The program also requires users to enter a new two-year contract with their cellular provider.

“iPhones hold great value. So, Apple Retail Stores are launching a new program to assist customers who wish to bring in their previous-generation iPhone for reuse or recycling. In addition to helping support the environment, customers will be able to receive a credit for their returned phone that they can use toward the purchase of a new iPhone,” the company’s press statement reads.

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