“Apple Inc. plans to introduce a trade-in program for iPhones in China, people familiar with the effort said, after a similar program bolstered sales in the U.S.,” Tim Culpan and Tim Higgins report for Bloomberg. “Consumers will be able to take older iPhones to Apple stores in China for credit against the company’s products as soon as March 31, the people said, asking not to be identified as the details aren’t public. Foxconn Technology Group will buy and re-sell the phones as part of the program, one of the people said.”
“Its China trade-in plan follows an expansion of a similar program started in 2013 in the U.S., where the company is accepting non-Apple devices for the first time,” Culpan and Higgins report. “‘It has certainly been a driver for sales pickup,’ said Roger Entner, an analyst with Recon Analytics LLC, who estimates about half the people buying iPhones in the U.S. during the final quarter of 2014 traded in their older phones.”
“Foxconn will repair the devices if needed and then sell them through its e-commerce sites eFeihu and FLNet, and through Alibaba Group Holding Ltd.’s Taobao online store, one person said,” Culpan and Higgins report. “Foxconn also is in talks to sell the iPhones through physical stores and may take the trade-in program online in the future, the person said.”
Read more in the full article here.
MacDailyNews Take: This will be a very big deal.
Note: The traded in phones will under cut the lowest cost new Android phones! It is a loose loose deal for Samsung and the other low cost Android phone groups.
Here’s my old iPhone. I’ll take one WATCH SPORT please.