Apple Buying Back Old iPhones Ahead Of Expected iPhone 5 Launch

By John Yong, 30 Aug 2012

With Apple set to announce its eagerly-anticipated iPhone 5, it appears that the company is now buying off old iPhones from consumers to make room for the new device.

Using the company’s Reuse and Recycle program, Apple could pay you up to US$345 for a 64GB iPhone 4S, depending on the condition of your device.

Older versions of the iPhone and those in poor conditions will be valued lower.

After Apple’s recycling partners have evaluated your phone, they will send you a gift certificate, which you can choose to redeem at Apple’s retail or online store.

Just in time for the new iPhone 5, which is expected to be unveiled on 12 September 2012.