Apple Reduces Trade-In Value for iPhone, Other Devices

Apple has reduced the trade-in value for the iPhone, iPad, Apple Watch and Macs as it prepares to launch new versions of those products later this year.

Seeking Alpha reported Tuesday (July 5) that the company will now give up to $600 for an iPhone 12 Pro Max, down from $650.

The iPhone 12 Pro is now worth $500, lowered from $600, while other models are worth between $25 — for the iPhone 6s — and $400, for newer models such as the iPhone 12 or iPhone 11 Pro Max.

The trade-in value for an iPad has dropped as well, from $655 to $555 for an iPad Pro, and $180 for an iPad, down from $190.

For the Apple Watch, trade-in values dropped from $50 t0 $40 for the Series 3 and from $120 to $115 for the Series 5.

Finally, the company reduced trade-in values for a number of computers: the iMac Pro ($1,500 to $1,350), iMac ($830 from $850), Mac Pro ($1,800 to $1,400) and Mac mini ($450 to $400).

See also: Apple to Keep iPhone Production Flat for 2022

As PYMNTS reported earlier this year, Apple said it plans to keep iPhone production essentially flat for the remainder of the year, asking suppliers for an estimated 220 million iPhones, almost the same amount as last year.

That figure is 20 million units below market forecasts, which were based on a projected update to the iPhone later this year.

The company is reportedly hoping to entice more customers with a flashier new version of the iPhone. The iPhone 13, which debuted in 2021, is considered a minor update, while the iPhone 14, due out in the fall, is expected to offer more screen sizes and features such as satellite-based text messaging.

Learn more: Apple Wants Drivers to Buy Gas With CarPlay

Last week, Apple previewed an update of its CarPay that will let drivers purchase gas directly from their car’s dashboard.

It also lets drivers’ iPhones communicate with the vehicle’s real-time systems and display driving information such as speed, revolutions per minute (RPM), fuel level and temperature on the car’s instrument cluster.