Gazelle Reports High Volume of Trade-Ins in Anticipation of iPhone 5s
With less than a month remaining until the iPhone 5s's rumored launch, more people are trading in their old iPhones than ever. According to popular used phone service Gazelle, users are submitting their Apple smartphones for sale as frequently as once per second.
As of Wednesday's report, the trade-in website has presented over 500,000 offers on used iPhones over the past week, which is a 90 percent increase from the week prior. Gazelle had close to a 100 percent increase on iPhone offers on Monday, when news broke about Apple's all-but-official plans to release the iPhone 5s on Sept. 10th. According to Gazelle, the iPhone 4 is being traded in more than any iPhone generation and has seen a nearly 300% increase in trade-in volume compared to August 2012, when many consumers were getting ready to purchase the original iPhone 5.
The used phone buyer reports that Verizon iPhone trade-in volume is increasing more quickly than that of AT&T's models, which is likely linked to the fact that those who bought Verizon's first iPhones in 2011 are finally eligible for an upgrade.
As with any major smartphone release, it comes as no surprise that consumers are getting rid of their old devices to make way for the new. What we're curious about, however, is how many shoppers plan on dropping a Samsung or HTC phone for the iPhone 5s.