Apple has confirmed that it’s launching a trade-in program for iPhones after much speculation about its plans for the reselling market over the past several months.
The program allows for users to bring in their older phones and get credit toward a newer model. Previous iPhone recycling programs had let users turn in older gadgets for a gift card at Apple’s stores.
Apple spokeswoman Amy Bessette confirmed that the company is rolling out its program Friday.
In a statement, Bessette said: “iPhones hold great value. So, Apple Retail Stores are launching a new program to assist customers who wish to bring in their previous-generation iPhone for reuse or recycling. In addition to helping support the environment, customers will be able to receive a credit for their returned phone that they can use toward the purchase of a new iPhone.”
CNBC was the first to report that the company had confirmed plans to step into the space itself, following up earlier reporting by Bloomberg in June that the program was on its way. In the firm’s latest earnings call, chief executive Tim Cook had said that he was attracted by the environmental benefits this kind of program could have.