Amid reports that the 2018 iPhones are not selling as well as originally expected, Apple has come up with a new strategy to boost upgrades. The company has now raised old iPhones’ trade-in values to entice users to buy the iPhone XR, XS and XS Max.
Raising old iPhones’ trade-in value
Apple has raised old iPhones’ trade-in value under its GiveBack program. The company rebranded its trade-in program as the GiveBack program in April. The new values are for models between the iPhone 6 and 6 Plus through the iPhone 8. It must be noted that the iPhone 8 Plus and X have not gotten any increase in their values of $350 and $500, respectively. Additionally, the increase in old iPhones’ trade-in values is only being offered for a limited time, the company clarified.
If you trade in an iPhone 6, you get $150 (up from $75); for the iPhone 6 Plus, you get $200 (up from $100). The iPhone 6S will get you $200 (up from $100), while the iPhone 6S Plus is now worth $250 (up from $150). The iPhone 7 will fetch $250 (up from $175), and the iPhone 7 Plus will get you $300 (up from $250). The iPhone 8 is now worth $300 (up from $250).
These are not the best deals, as you can get more for these phones on sites like eBay or Craigslist. Still, it is a decent offer from a company like Apple, which does not usually throw in extra discounts. Additionally, here you are dealing directly with Apple, so it is hassle-free, unlike selling your iPhone via other sites.
How to take advantage of the offer
To take advantage of the increased trade-in value, you will have to buy a new 2018 model. If you are not buying a new iPhone, you will qualify for the prior value in the form of an Apple Store gift card. The offer is available both in the Apple Store and online. Keep in mind that the whole process is quicker when completed at an Apple Store.
In the store, you can trade in your old iPhone directly as opposed to shipping the handset first if you choose to go online. The credit is also applied more quickly, and the money returns to your credit card accounts in three to five business days. In the case of online trade-ins, the whole process may take a few weeks as Brightstar, which is Apple’s partner for trade-ins, will have to evaluate the shipped handset first.
Users who wish to buy the new iPhones using Apple’s payment plans or a carrier’s monthly installment plan can also get the higher trade-in value. The value of their iPhone will be applied to the taxes and fees for the new phone, while the difference is returned to you in the form of an Apple Store gift card. However, you can’t use the gift card to pay the monthly installments on your iPhone because it is an Apple Store gift card and does not apply to carriers or third-parties Apple uses to handle its payment plans. You can use the gift card to buy any other product from the Apple Store, like AirPods.
Apple’s new trade-in values are surely a lucrative deal if you have plans to buy a new iPhone. Apple did not say how long the new trade-in values will be offered, so you may want to act quickly if you want the extra discount.
Does this new promotion mean slow sales of new iPhones?
Since the release of the new iPhones, there have been several reports claiming slow demand for the new iPhones is leading Apple suppliers to reduce their revenue forecasts. Although Apple has not said anything officially, analysts widely see its recent announcement that it will no longer report iPhone sales numbers as an attempt to hide weakening sales. Apple’s latest promotion of raising the old iPhones’ trade-in value would also be viewed by many as a hint of weak iPhone sales.
Meanwhile, Digitimes suggests Apple has cut iPhone orders for a second time due weaker-than-expected sales. The Taiwan-based news site claims Apple’s supply chain partners in Taiwan have been feeling the pressure since the U.S. firm reduced orders a second time.
Largan Precision, which makes lenses for Apple, expects its November revenue to be less than last month’s. Career Technology, which makes printed circuit boards for iPhones, removed about 100 workers following the cut in orders from Apple, Digitimes says.