As iPhone 5S launch nears, Apple rolls out trade-in program in US

Apple Inc has launched a trade-in program in its US retail stores for older models of its iPhone as it gears up for the launch of a new version of the smartphone, it said on Friday. Apple will give customers a credit for their old phones to be used toward the purchase of a new model, an Apple spokeswoman said. A thriving industry exists for older versions of smartphones, especially the iPhone, on websites such as eBay and Gazelle. Even broken iPhones can fetch as much as $125 from vendors, who resell them in the United States and internationally. [caption id=“attachment_1075097” align=“alignleft” width=“380”] Apple’s iPhone 5 is seen in this file photo. Getty Images[/caption] Gazelle Chief Executive Israel Ganot estimated the used smartphone and tablet market in the United States will reach $14 billion by 2015. “So there’s obviously a huge opportunity here for multiple players,” he said. Apple shares dipped nearly 1 percent to $487.46. Reuters