iPhones older than 13 models will cost more in trade-in soon.
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With the iPhone 16 on the horizon, Apple is reportedly taking steps to clear inventory of iPhone 15 family devices.
Starting May 20, Apple is said to be increasing the amount of credit paid on the sale of older iPhones towards the purchase of any iPhone 15 model in the US and Canada. A report from Bloomberg's Mark Gurman says the promotion will run until June 3.
The enhanced trade-in promotion may not apply to the latest models, such as iPhone 13 and iPhone 14, or the latest iPhone SE. Instead, Apple aims to encourage customers who kept older iPhones to upgrade to the iPhone 15 model.
Current trade-in credits for older models range from the $50 iPhone 7 Plus to the $350 iPhone 12 Pro Max. There is no indication yet how much the exchange price will increase during the promotion.
Trade-in prices for the iPhone 13 line and later range from $270 to $630, depending on the model.
Apple is likely planning to reduce existing inventory of the iPhone 15 lineup ahead of the release of the iPhone 16. While the company has maintained its position in smartphone sales, global markets have contracted in recent months, especially in China.
You can exchange goods directly in Apple Stores or through the Apple online store. The credit can be used to purchase any new Apple product or put towards an Apple gift card.
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