(Reuters) the aim Apple Inc plans to introduce a good trade-in program for iPhones from China in association with the Foxconn Technologies Group, Bloomberg reported, citing people today familiar with the effort.
Under the program, organic will be able to exchange older iPhones coming from Apple stores in China on credit against the company’s products starting point March 31, Bloomberg reported. (http://bloom.bg/1bvwRH4)
Chinese demand for larger-screen iPhones cured fuel Apple’s record profit using $18 billion in the final particular last year.
Apple Chief Executive Tim Put together has said China is poised to surpass the United States as the company’s biggest markets, and he is working to about dual the number of stores in Greater India by the middle of next year, Bloomberg reported.
Under the China program, Foxconn will buy the iPhones directly, before Apple taking ownership, and a complete repair the devices if needed previously selling them on its ecommerce websites such as FLNet and on Alibaba Group Holding Ltd’s Taobao market.
Foxconn, a key Apple supplier, ıs usually in talks to sell the senior iPhones in physical stores and can even take the trade-in program online at a later date.
The China plan follows a strong expansion of a similar program in amercian, where the company has started accepting non-Apple devices, Bloomberg reported.
Major Oughout. S. wireless carriers including Verizon Communications and Sprint Corp in ’09 offered subscribers schemes under that they could trade their old apple iphones for new ones.
The China trade-in program currently involves only The apple company phones, Bloomberg reported, citing one of people.
Apple declined to comment or short and Foxconn could not be gained for comments immediately outside traditional business hours.
(Reporting by Rishika Sadam in Bengaluru; Editing basically Anupama Dwivedi)