iNVEZZ.com, Monday, September 2: Apple (NASDAQ:AAPL) Inc announced on Friday the start of a trade-in programme in its US retail stores that allows iPhone users to exchange their older versions of the handset for a new model at a discounted price. The move aims to boost the number of iPhones sold directly through Apple’s retail chain, which Chief Executive Officer Tim Cook has described as not healthy enough.
In Friday’s trading Apple shares closed 0.91 percent lower at $487.22.
Some third party channels such as mobile carriers including Verizon Wireless and AT&T Inc have been offering similar programmes for the iPhone, but this is the first Apple will implement a trade-in scheme for its prized mobile device.
“I see channels doing it, and I like the environmental aspect of it, and so that part of it really is encouraging to me,” Cook has said on the prospects of the company launching a trade-in programme for the iPhone. At the same time, he’s looking to increase sales of the handset at Apple’s outlets. Speaking to Apple Retail leadership, Cook has noted that 80 percent of iPhones are not sold directly from the company’s own chain.
“IPhones hold great value so Apple Retail Stores are launching a new program to assist customers who wish to bring in their previous-generation iPhone for reuse or recycling,” Amy Bessette, a spokeswoman for the company said on Friday, as quoted by Bloomberg. “In addition to helping support the environment, customers will be able to receive a credit for their returned phone that they can use toward the purchase of a new iPhone.”
Depending on the condition of the old phone, customers could receive up to $280 in credit towards the purchase of a new iPhone at an Apple outlet.
Retaining mobile traffic lead
In smartphones, the iPhone continued to command a comfortable lead over Samsung with a 56.8 percent share of all mobile web traffic in July. But its share remained almost flat compared with a year ago, while the share of Samsung’s smartphones increased to 21.8 percent from 16.8 percent.
As of Friday buy Apple shares at $487.22
As of Friday sell Apple shares at $487.22