Apple’s trade in push
With the emergence of the smartphone, technology lives were changed forever. Consumers had the ability to stay in contact with everyone and everything at all times of the day, anywhere in the world. As smartphones make their way into the hands of an even greater number of consumers, secondary business markets have emerged to get a piece of the action. Over the last couple years a number of smartphone buyers have emerged to buy and sell old phones. These companies aim to make money between the spread in which they buy, and sell, old smartphone technology.
However, the highly competitive industry may be about to get even more competitive in the years ahead. Apple (NASDAQ:AAPL) , the world-renowned smartphone manufacturer is looking to get some skin in the trade in game. Earlier in the week it was reported Apple is about to introduce an iPhone trade-in program that will allow users to walk into any retail store and trade up from an old model to a new one. Perfect timing according to some analysts, the company is expected to announce the newest versions of the company’s flagship iPhone line early next month. Already being trialed in some locations, the trade in program will give consumers a gift card, or credit, for their old technology. Unlike the many online retailers which pay cash for old phones. Apple could benefit in two major ways, the first, it will be able to keep consumers coming back to the brand if it offers consumers an incentive to stay within the Apple family. Second, the company could logically pay more in credit than its trade in competitors could pay in cash.
Shares of Apple are up by $4 on Thursday to $495 per share. While shares are down by more than 8% this year, over the last month shareholders have done exceptionally well. Rumors of shareholder programs have sent shares soaring from $400 to $500 in a matter of weeks.
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