Have an old iPhone that you want to trade-in? Looks like you might be able to fetch a better price at somewhere other than an Apple Retail Store. The company has reduced the maximum value it is willing to offer you for an old iPhone. Apple accepts trade-ins under its iPhone Reuse and Recycling program which previously provided a maximum of $270 for an old iPhone. This in-store credit can only be put towards the purchase of a new smartphone from Apple.
The change has been witnessed in both the U.S. and Canada. Instead of offering a maximum of $270 like before, Apple will now offer a maximum of $225 for an old iPhone. That’s a $45 cut.
Existing flagships can’t be traded-in but it would accept the iPhone 5s once its successor comes out later this year. Initially when the Reuse and Recycling program kicked off Apple was offering as much as $345 for a used iPhone 4S which was the most current model at that time.
There’s an online estimation tool that customers can use to check what they’re likely going to receive if they trade-in their old iPhone. Third party firms may offer more so it wouldn’t hurt to research a bit on the internet before getting rid of your old iPhone.
Apple hasn’t given a reason as to why it has suddenly reduced the maximum amount its willing to give, presumably its due to depreciating values of older iPhones.