9to5Mac reports that Apple will begin rolling out the program Friday, August 30th. A larger scale rollout will commence in September.
Here's How It Works:
● A customer tells an Apple Store employee that he/she would like to purchase a new iPhone and trade-in his/her older model.
● The Apple Store representative enters information about the customer’s iPhone into an application installed on their mobile EasyPay devices. The EasyPay is normally the device that you will see Apple Store employees carrying around in order to facilitate purchases.
● Based on the information inputted into the EasyPay, a value for the old iPhone will be provided to the customer. The value will be created based on the following specifics about the old iPhone: Display quality, button quality, overall hardware damage, engraving, liquid damage, and being able to be powered on and used normally.
● The Apple Store employee will then tell the customer that his/her phone could not be given back once they agree to the provided terms and conditions.
● However, the customer will be given the opportunity to backup his/her iPhone before turning it in.
● The Apple Store employee will then provide the customer with their new iPhone, a gift card with the value amount to be paid towards the new iPhone, and a plastic bag.
● The Apple Store employee will then process the transaction for the new iPhone and place the old iPhone in the plastic bag.
● The old SIM card will be given to the customer and the Apple Store employee will offer to setup the new iPhone.
As reported by Bloomberg, it will be BrightStar that handles the traded in phones; however, it's said that the phones will not be sent overseas to emerging markets. Rather, they will be recycled for use in the U.S.A.
An unlocked undamaged iPhone 5 (16GB) will reportedly be worth about $279 on trade in. An AT&T iPhone 5 (16GB) would be worth about $255. This is less than one might get from a third party recycler like Gazelle who offers $330 for both those devices.
More details in the report linked below...