During today's earnings call for the second fiscal quarter of 2019 (first calendar quarter), Apple CEO Tim Cook said that Apple's iPhone trade-in efforts have been highly successful.
According to Cook, Apple saw an all-time record response to the company's trade-in promotions, and Apple saw more than four times the number of trade-ins from the year-ago quarter.
When asked which devices people are trading in, Cook said that it's "all over the place." iPhone 6, 6 Plus, 7, 7 Plus, and fewer 8 and 8 Plus models. Some customers, he says, are on a two-year upgrade cycle, some on a one-year upgrade cycle, and some on three or four year cycles.
Cook said that Apple is aiming to offer better than average trade-in values to provide "extra benefits" to iPhone users.
In our stores we offer a trade-in value that is more than the blue book of the device, for lack of a better description. And so we have topped those up to provide extra benefit to the user.
Apple in November began offering a limited-time promotion that provided up to $100 in additional credit when trading in an iPhone. The program allowed customers to buy a new iPhone XR, XS, or XS Max at a more heavily discounted price when trading in an older device.
Apple is no longer running that specific program, but the trade-in page continues to promote new iPhone pricing that's available when trading in an old iPhone and Apple's prices are better than most other trade-in programs for the iPhone.
Top Rated Comments
Apple will give me $200.00 toward a XS...in order to fit all my music I’d have to get the 256GB and with the trade in the XS will still cost me $949.00 Yikes!!
No way I’m letting my 6s go and still pay $1000.00 for me that’s an unwise decision.
To me, I was getting a new device every year or two with the old ATT 2 year plans that allowed it ($199/$299/$399 up front, and then the cost of the line for two years). Since the carriers switched to these new plans, I’m sure I’m not the only one who has absolutely no incentive to upgrade. I’d rather ride out a device 3-5 years before forking over $1100 for a new one.