IPhone Users to trade Old Phones for New Ones

Apple had early last June said it would start a programme that would allow users to trade their older iphones for the newest model, according to Bloomberg report, which cited people familiar with the plan as saying, "a first for the company as it prepares to introduce a new version of the smartphone". 

It has teamed up with Brightstar Corporation, a mobile phone distributor that runs similar trade -in programmes for carriers like At&T Inc ant T-Mobile, to handle exchanges.

The new iphones with no wireless contract are priced at $649, depending on storage size. Demand is typically strong but investors worry that, as the U.S. market becomes increasingly saturated, smartphone purchases will slow sharply. A trade-in programme can help bolster demand for expensive new models, especially as arch-rival Samsung Electronics steps up an aggressive push to sell its own devices in the U.S market, the report said.