Why does Apple offer to take back your old iPhone?

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Why does Apple offer to take back your old iPhone?

When Apple launches new iPhones, it gives the customers option to return their old iPhones and in return get a reduced price on the new ones (Apple Trade-In)






This benefits both the customers and Apple in the following ways:

Benefits to Us (the Customers):

  1. Customers get to purchase the new iPhones at a reduced price
  2. Customers get a chance to stick with iPhones and gives them one less reason to jump to Android (this can be looked at as a benefit to Apple as well)

Benefits to Apple:

  1. It helps Apple sell a high percentage of their newly launched devices
  2. Helps Apple retain their customers by having them upgrade to their new devices
  3. If the older iPhones are in good condition, Apple repackages them and sells them as refurbished (used) devices again at a reduced price. This ensures that Apple's customer base continues to expand
  4. If the older iPhones are not in a good condition to be sold again, then Apple will disassemble the parts of the iPhone and recycle them to use them in their manufacturing process




Note: The contents of this post are taken from the video at the below link:
https://www.youtube.com/watch?v=HmQuT0unrk0 

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