With the launch of Apple Inc. (NASDAQ:AAPL)’s iPhone 6 approaching close, resale sites are witnessing an increase in older Apple phone trade-ins. As of now, consumers can trade-in their older iPhone with a profit of at least the breakout price for the new device.
Market experts have estimated the cost of iPhone6 to be around $199 when clubbed with a 2-year wireless contract. For existing iPhone owners, the good news is that they can trade their older phones for a higher price to the resale sites, although they would have to sign a 2-year contract with the retailer.
Resale market for Apple Inc. (NASDAQ:AAPL)’s iPhone has become lucrative after the presence of powerful players including Apple Inc. (NASDAQ:AAPL) and Wal-Mart Stores, Inc. (NYSE:WMT). As of now, Wal-Mart Stores, Inc. (NYSE:WMT) offers $155 for iPhone5 and $275 for the 5S variant. Apple is offering $225 for the previous version of iPhone. The best offers are from Amazon.com, Inc. (NASDAQ:AMZN) with gift cars worth $394 for iPhone 5s and $255 for iPhone5. NextWorth is another online retailer offering $294 for the 5S variant and $185 for iPhone5.
NextWorth, resale site, reported an increase of 671% in iPhone5’s trade-ins along with a 483% increase in the trade volume of iPhone 5S and 5C. These percentages are significantly higher as compared with the weeks prior to the launch of iPhone5 (150% increase in trade-ins).
Apple Inc. (NASDAQ:AAPL) will offer two different variants of the phone with 4.7-inch and 5.5-inch screens. Experts are considering it a move against its rival Samsung, especially in the Asian markets where consumers prefer bigger screens. The company has already received orders for more than 80 million units of the latest device.
This article has been written by Prakash Pandey.