IPhone Trade-Ins Shave New Device Price Amid Promo Frenzy: Tech
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Many of the people rushing to buy an iPhone 6 tomorrow will fund the purchase with a currency that’s growing in value: old iPhones.
Used versions of the smartphone can be worth hundreds of dollars, thanks to rising demand for the earlier models in emerging markets and at home. This year, as many as three-quarters of Americans who upgrade their iPhones will trade in their devices, according to Roger Entner, an analyst at Recon Analytics LLC. That’s as many as 22.5 million old iPhones being handed in, up from only about half of users trading in iPhones for upgrades last year.