APPLE STORES IN NYC BEGIN iPHONE TRADE-INS TODAY HOPING TO JACK UP SALES FOR NEW iPHONE 5S

iPHONE 5S

Apple stores in the Big Apple will start taking trade-ins of older iPhones this Friday.
The much-anticipated Apple iPhone trade-in program, which is already being tested in some US stores, is aimed at jacking up sales of the next generation iPhone scheduled to hit store shelves next month.

Other carriers have similar trade-in programs, and third-party vendors, like Gazelle, also buy used phones.

However, older iPhones maintain their value more than other smartphones.
A 16-gigabyte iPhone 5, worth $650 new, could fetch around $315 used in “flawless” condition.
 
The details of Apple’s trade-in program are still not public, and the Cupertino, Calif., company has yet to confirm it even exists.

Reports yesterday said the service would roll out in stores over the coming month.

Staffers at the Soho and Upper West Side stores yesterday said trade-ins would start Friday, confirming the program exists.

Plans for the Grand Central Terminal, Fifth Avenue and Meatpacking District branches were unclear.

Staffers would not discuss details, but one source said that Apple would match the price that carriers offer for the phones.

Several media outlets yesterday reported payment for the trade-in would be made on Apple gift cards.

It is unclear if the gift card will be good for iPhone purchases only — or if they could be used to buy other Apple products.

New iPhones are expected to hit on Sept. 10.