Walmart introduces smartphone trade-in plan

Beginning on September 21st, Walmart will start to accept smartphone trade-ins just in time for the expected launch of the next iteration of the Apple iPhone. Smartphone owners will be allowed to turn in their current handset and depending on condition and model, they will receive a instant credit of $50 to as much as $300 toward the purchase of a new phone.                                                                                                                               
The program will be run by CExchange and the smartphone owner will have to answer a series of questions to help determine how much his trade is worth. The program is available at 3,600 participating Walmart and Sam’s Club locations nationwide. Some of the examples mentioned by Walmart included: $300 for an Apple iPhone 5, $175 for a Samsung Galaxy S III and $52 for a Samsung Galaxy S II. Apple recently started accepting trades at Apple Stores and both Apple and Walmart are competing against third party companies like Gazelle.

"Smartphones have become a part of our customers' everyday lives and as new devices launch more frequently, trade-in programs are becoming more popular. More and more, customers are choosing where they purchase new smartphones based on where they'll get the best value for their trade-ins. Our goal is to give them more value for their old devices and the lowest price for their new one – all part of our promise to be the best destination for wireless."-Steve Bratspies, executive vice president, general merchandise, Walmart U.S.

Walmart customers interested in a trade-in should head to the electronics department of their local store where the value of the trade will be applied against the current low Walmart prices such as the Apple iPhone 5, available for just $98, and the Samsung Galaxy S4, priced at just $138. Both of those prices are based on a signed two-year contract from Verizon, AT&T or Sprint.