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August 31st, 2013 
Peter Nolan SAN FRANCISCO (Reuters) – Apple Inc has launched a trade-in program in its U.S. 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.
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.
(Reporting by Poornima Gupta; Editing by Jeffrey Benkoe)
Source Article from http://news.yahoo.com/apple-rolls-iphone-trade-program-u-stores-183635113–finance.html
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