Yesterday Apple formally rolled out its trade-in program for the Chinese market, but the discounts you get in-store are not as good as what you can find on the street.
According to Sina Tech, as of yesterday Chinese consumers are able to take older iPhones or iPads to Apple stores in China for credit against the company’s products. The trade-in program includes the iPhone 4, 4S, iPhone 5, 5S and all iPads prior to the iPad Air.
In-store you can trade in your iPhone 4 for 250 yuan, iPhone 4S (500 yuan) and iPhone 5S (1500 yuan). Online, however, it is possible to find much more generous rates. A reporter from Sina who visited several specialist electronic goods recycling websites found that it was possible to hand over a 16BG iPhone 4S for 1100 yuan and a 16 GB iPhone 5S for 2900 yuan.
Bloomberg says that the program is the result of a tie-up between Apple and partner Foxconn. The Taiwanese manufacturer will buy the product from the consumer, fix up the device and then resell them through its own e-commerce sites in China.
Apple has seen a soaring market in China in recent years, with its iPhone accounting for 25.4 percent of market share in China’s urban areas between November 2014 and January 2015, according to UK market survey firm Kantar Worldpanel in March.
While the Chinese are crazy for all things Apple, the California-based tech company is taking steps to fend off competition coming from local manufacturers such as Xiaomi, who are becoming increasingly popular in mainland China.
By Dominic Jackson