Image credit: Apple
Apple has launched a program that now includes Android and Windows Phones as trade-ins for a new iPhone. Depending on the model and condition of the trade-in, and the new model purchased, customers could receive between US$100 and $300.
According to USA Today, the new program is called "Trade Up With Installments."
As with Apple's current iPhone Upgrade program, customers receive an unlocked iPhone which they can use with a carrier of their choice. Also, as before, customers can finance the remaining balance on the new iPhone with Citizens bank, and that requires a credit check. Payments can be as low as $15/month for 24 months but are more typically in the $30-$40 range.
Customers must physically visit an Apple retail store and bring their old phone to take advantage of this offer.
Why is Apple Doing This?
During Apple's last earnings report on January 26, Apple CEO Tim Cook reported that 60 percent of of Apple's iPhone customers have models older than an iPhone 6. This is one way to ignite growth in a market whose growth appears to be leveling off—for now.
Also, Tim Cook, for the last several earnings reports, has cited a record number of Android Switchers. This program is no doubt designed to get those switchers both fired up as well as to visit an Apple store and see all the other offerings from Apple.
The Trade Up With Installments program starts today.