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Apple Planning iPhone Upgrade Event This Week (Report)

Apple may be prepping an iPhone upgrade event at its retail stores later this week. According to reports, the promotion will encourage users with older iPhones to step up to an iPhone 5s or iPhone 5c. Starting May 8th, Apple is expected to email iPhone users who are eligible for a product upgrade, spurring them to go to their local Apple store to snag one of the company's latest and greatest smartphones.

The rumor comes by way of 9to5Mac, which, citing a source with knowledge of the event, said that Apple's stores are preparing for a large influx of customers. This latest initiative presumably will be different from Apple's existing iPhone trade-in program, which lets you turn in your out-dated handset for a new one at a discounted price.

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The idea behind the rumored promotion may be to help Apple clear out inventory of its current generation handsets in anticipation of the launch of its iPhone 6 later this year. Apple could also be using the event to get out in front of the inevitable slump in iPhone sales that proceeds the announcement of a new handset.

The iPhone 6 is predicted to come in two sizes -- 4.7 inches and 5.5 inches -- and include a new high-powered A8 processor, as well as a slimmer design. There are also rumors that the handset will feature a 10-megapixel camera, as well as a sapphire crystal display that will offer greater protection from cracks and scratches.

via 9to5Mac