Bloomberg has reported that Apple will start an iPhone trade-in programme this month.
Sources told the publication that Apple wants to encourage users to turn in older models so they can upgrade to the iPhone 5.
They claim Apple has teamed up with mobile phone distributor Brightstar Corp to run the exchange programme. And by offering money for older smartphones, Apple is looking to entice customers to upgrade.
The sources say this is part of the firm’s efforts to reignite sales growth and combat declining shares.
The scheme is set to start in the US and it is alleged that trade-ins will only be possible through Apple’s retail outlets, where owners will be able to receive instant payment.