Rumors of an Apple-run iPhone trade-in program have been doing the rounds for months. Things heated up this week, though, with reports that Apple planned to launch the program in its retail stores by the end of August. On Friday, those rumors came to fruition, as Apple confirmed that its iPhone trade-in program would be rolling out at Apple retail stores around the country.
Apple confirmed its plans with several news outlets, and CNBC states that gift cards offered for old iPhones will range from $125 to $250. It sounds like the program will operate much the same way rumors indicate. Customers will come in with their old iPhone and an Apple store employee will determine the value of their device based on a number of factors including physical condition of the device itself and the model. Customers must resign a new contract if they wish to take part in the trade-in program, and the program will accept all generations of iPhone.
Apple is expected to announced the rumored iPhone 5S at a yet-to-be-confirmed event on September 10. If previous rumors are true, the phone will be available in black, white, gold and slate. There's also talk of a budget iPhone called the iPhone 5C. This model is thought to have a plastic casing and will apparently come in a range of different colors.