— Jon Fortt (@jonfortt) August 30, 2013
CNBC's John Fortt tweeted this morning confirmed that Apple was launching its Apple Store iPhone trade-in program across the country today. Its purpose is to help customers gain credit to purchase a new iPhone. Non-water-damaged devices can be traded in between for $120 or $250 depending on the condition and other factors. Apple's official statement is below:
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. 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.
The trade-in requires that customers walk out of the store with a new iPhone. The focus of the swap is to have iPhone 4s's be traded for an iPhone 5.
It's unknown how Apple's Reuse and Recycle Program factors in to this latest experiment, but the features are essentially the same. However, the primary motivation for this could be preparation for the iPhone 5S and iPhone 5C on September 10. Only 20 percent of iPhones are sold through the physical stores, so the company may be trying to open up more space for the two new phones and increase sales for this important segment of their product line.