A related report from TechCrunch indicated that pilot training is already on going at some Apple Inc. (NASDAQ:AAPL) retail stores, and staff have offering the trade-in program to its customers for a few weeks now. The report indicated that some of the tech giant’s pilot stores have been processing multiple trade-in transactions per day.
ValueWalk's Raul Panganiban with Maurits Pot, Founder and CEO of Dawn Global. Before this he was Partner at Kingsway Capital, a frontier market specialist with over 2 billion AUM. In the interview, we discuss his approach to investing and why investors should look into frontier and emerging markets. Q2 2021 hedge fund letters, conferences and Read More
TechCruch wrote that staff evaluate the non-liquid damaged iPhone brought by a customer at an Apple Inc. (NASDAQ:AAPL) retail store with the help of an online site which is accessible via iMacs and iPads. Customers are required to answer different questions regarding the condition of the device to determine its value. They are allowed to use the value of their older iPhone as credit for a new device if they are qualified for an upgrade from their carriers. If a customer is not qualified for a credit upgrade, he or she has the option to pay the carrier’s early termination fee and use the value to upgrade his or her iPhone under to another carrier.
Apple’s trade-in program to boost the sales
The trade-in value of a 16GB iPhone 4 or iPhone 4S is approximately $120 to $200 based on the condition of the device. An iPhone 5 with a good condition could still be valued at around $250.
Apple Inc. (NASDAQ:AAPL) is implementing the trade-in program to boost the sales of the iPhone 5. The tech giant plans to sell the refurbished older models of iPhones such as the iPhone 4 and iPhone 4S in emerging markets.
Tim Cook, chief executive officer of Apple Inc. (NASDAQ:AAPL), previously stated during the company’s quarterly conference call that the issue regarding the trade-in program were rumors at the time, but he did not reject the idea. He said, “We haven’t announced anything relative to a trade-in program, so what you’ve been seeing is primarily rumor-oriented.”
Reports indicated that Brightstar Corporation would handle Apple’s trade-in program. Brightstar also runs trade-in programs for other companies including AT&T Inc. (NYSE:T) and T MOBILE US INC (NYSE:TMUS).
Other sale boosting programs of Apple
Observers in the technology industry suggest that the Apple Inc. (NASDAQ:AAPL) trade-in program could boost sales of its retail stores. Cook aims to increase the iPhone sales of the company’s retail stores from 20% to 50%.
The tech giant already introduced different programs to boost its iPhone sales including the Apple Store App with free iTunes content and enhanced Back to School App Store Gift Card Offering. Apple Inc. (NASDAQ:AAPL) also improved its AppleCare support.