Apple to launch trade-ins - report

REPORTS are circulating that Apple is about to launch an iPhone trade-in program to coincide with the release of its new model next month.

Under the scheme, customers will be able to walk into an Apple store with an older model and walk out with the new one, according to CNN.

Older models expected to be eligible for a trade in include the iPhone 4 and iPhone 4S. It is believed that earlier models such as an iPhone 3 or 3G won't be due to their limited resale value.

While Apple already has a similar mail-in rebate program, customers won't have to wait to get their new gadget.

Apple iPhone 5 generic photo

The new iPhone - expected to hit shelves in the second half of September - will reportedly have a faster processor, an improved camera, longer battery life and a fingerprint scanner for added security.

According to blog MacRumors, Apple store staff are currently being trained on the new trade-in program.

The blog 9to5Mac says some Apple stores in the US are already running a limited pilot program.

Bloomberg recently reported that Apple was working with recycling company Brightstar and that trade-ins could be refurbished by Apple and resold in emerging markets throughout the world.

Apple CEO Tim Cook didn't dispel rumours at Apple's most recent eaings call.

Cook said he was \"not opposed\" to in-store trade-ins.

\"I see channels (third-party vendors of Apple products) doing it, and I like the environmental aspect of it, and so that part of it really is encouraging to me,\" he said.