Apple has garnered some fame for its “Reuse and Recycle” policy for iPhones and iPads. You can trade devices as old as the iPhone 3G from 2008, to the iPhone 5 of 2012 and get some credit for your iPhone upgrade. With prices ranging from $99 for an iPhone 4, to $199 for an iPhone 4s, upgrading to another device could be free on contract in some cases, and that deal was much sweeter with devices like the iPhone 5, though we used the word “was” intentionally.
Apple has just cut the trade-in value of the iPhone 5 from $270 to just $225, which is a whopping $45 less. This change is currently active in the US and Canada, though we should expect it to gradually expand to other countries as it happened just days after the company made the trade-in program official in countries like Italy. The reasons for the price drop have not been made public, but keep in mind that this price does fluctuate from time to time, as the iPhone 5 trade-in price was $250 back in March, and then grew to $270.
For some of you it might be a smarter idea to sell your used device on eBay, though with the amount of time it might take for you to actually find a buyer, this is always a smart way to upgrade and avoid having your old hardware rotting in a drawer.