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In an attempt to tap into the growing market for used phones, Apple Inc has launched an iPhone trade-in program at its retail stores in the US.
iPhone owners in the US can trade in their smartphones for credit toward buying new models This news comes ahead of unconfirmed reports of a September 10th event at which the company will launch its iPhone 5S and rumored iPhone 5C. Connect the two developments and it looks as though Apple is is hinting at the launch of its new iPhone very soon.
There's a huge market for the sale of used iPhones in the US and international markets. Online market places like Ebay see large volumes of sales of such items. Even damaged units can be sold to vendors who go on to refurbish the units before reselling them. So it makes perfect sense for Apple to dip its beak into this market. Apparently, a used iPhone 5 can sell for as much as $300.
According to the Wall Street Journal, Apple has reportedly asked its Taiwan-based supplier, Hon Hai precision, to begin shipping two new versions of the iPhone in September, including the rumored low-cost 5C.
Reports about Apple's rumored iPhone 5C has given rise to speculation that for the first time, Apple will take its focus off producing only high-end products. If the low-budget phone does hit markets, then the Cupertino based company will make its debut in a market that's dominated by the likes of Samsung, Sony and a handful of Chinese phone manufacturers.