Scalper1 News
Apple’s (AAPL) new iPhone trade-in program for China has gained traction in the low to midrange market, pressuring local makers of Google (GOOGL) Android mobile phones. Apple launched the iPhone trade-in program in early April, partnering with Taiwan-based Hon Hai’s Foxconn Technology. Apple’s U.S. trade-in program started in mid-2013 prior to the release of the iPhone 5. The program let iPhone users trade in devices for gift card credit toward the purchase of a new iPhone. In China’s iPhone trade-in program, Foxconn refurbishes the iPhones and distributes them on secondary markets. In a research report Monday, Morgan Stanley analysts Joseph Moore and Katy Huberty said the trade-in program is helping boost iPhone 6 sales and is affecting the lower-priced Android market. “Most suppliers expect seasonal quarter-over-quarter growth for total iPhones in the September quarter, which could imply another quarter of at least 40% year-over-year growth,” said the Morgan Stanley analysts… Scalper1 News
Scalper1 News