Apple to Partner with Foxconn for iPhone Trade-In Program: Bloomberg

Apple will reportedly launch an iPhone trade-in program in China, assisted by the help of Foxconn, reports Bloomberg:

Consumers will be able to take older iPhones to Apple stores in China for credit against the company’s products as soon as March 31, the people said, asking not to be identified because the details aren’t public. The company is working with Foxconn Technology Group on the program, one of the people said.

The initiative looks to echo similar programs available in U.S. and Canada, where customers bring their old phones to retail stores for Apple to assess their value, then use credit towards their upgrade.

According to sources, Foxconn will buy these used iPhones from Apple directly, repair them and then sell them through its e-commerce sites eFeihu and FLNet, via Alibaba’s Taobao online store. Foxconn is exploring selling used iPhones through its physical stores and may take the program online in the future.

With China set to overtake the U.S. as Apple’s biggest market, the push to cater to customers looking to upgrade their iPhones will be a big one, to go alongside the Cupertino company’s plans to double retail stores in Greater China by mid-2016.