Users looking to trade in their iPhone 5 for credit toward a newer model will now get less value out of their old devices. Today Apple cut the trade-in value of the iPhone by $45, from the previous $270 down to only $225. The change is visible on websites for both United States and Canada Apple Stores, but it is likely that stores in other countries will see changes in local currency equivalents. This change comes just days after the program launched in Italy, with Australian stores planning to follow suit soon…
Trade-in values have a tendency to fluctuate, of course. In March of this year the value reached $275. A month before that it was only $250. However, today’s new price of $225 looks to be the lowest this number has ever dropped.
The iPad, which was recently added to the trade-in program, also retained its value. Last month the company also held an iPhone upgrade event during which the trade-in program was heavily promoted. At that time, the values of the iPhone 4s and 4 were increased to $199 and $99, respectively. It is not yet clear if Apple altered the pricing for those devices. Apple’s Reuse and Recycle iPhone trade-in program supports iPhone models ranging from the 2008 iPhone 3G to the 2012 iPhone 5.
The old trade-in price displayed on Apple.com until July 1st
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Remember Apple is not the one that is lower the price. They use a company called Brightstar who sets the pricing for the phones.