Apple and Foxconn in talks for iPhone trade-in scheme
Apple is working with Foxconn, their manufacturer, for the scheme in China
Since there is a huge demand for iPhones in China, Apple is reportedly in talks with Foxconn, their manufacturer, for a trade-in scheme. The trade-in scheme will help Foxconn sell used smartphones in stores and owners can get credits against the old pieces, using which, they can buy new ones.
The Mobile World Congress reported that, according to Bloomberg, the programme will start next week.
Foxconn, also known as Hon Hai Precision, generates more than half their revenue from assembling products for Apple. The company will collect all the old Apple products from Apple retail stores, refurbish them and retail them on their own online stores, as well as Taobao. They also plan selling the refurbished products in their own retail outlets.
The trade-in scheme is not new and Apple successfully ran the same in the US, which helped Apple boost their sales.