June 7 - There are about $9 billion worth of old iPhones collecting dust according to one estimate, and those older phones may have caught the eye of Apple, which is reportedly planning an in-store trade-in program in order to U.S. boost sales. Conway G. Gittens reports.
The Daily Digit is $9 billion. Consumers are sitting on around $9 billion in old iPhones, according to a resale site SellCell.com. And Apple's may be showing more interest in these old devices. The company is starting a program to allow users to trade-in older iPhones, according to a Bloomberg report, citing people familiar with the plan. Customers who have older iPhones will be able to trade them in for cash in Apple stores. And what's in it for Apple? A hope that the resale market will help push U.S. consumers to new models yet to be unveiled and reignite a sagging stock price. Used iPhones collected in the U.S. will only be resold in emerging markets, according to the report, which could help Apple compete in markets for lower priced smartphones.