Apple Stores get in on the iPhone trade-in action

Apple's iPhone 5.(Photo: Apple)

SAN FRANCISCO — Apple's in-store iPhone trade-in program launched Friday in the U.S.

Customers who bring in an iPhone will be able to receive credit toward the purchase of a new iPhone, Apple said.

"iPhones hold great value," Apple spokeswoman Amy Bessette said in an email to USA TODAY.

The program is "to assist customers who wish to bring in their previous-generation iPhone for reuse or recycling," she said.

News of the program's launch today was first reported by CNBC.

Analysts and websites had been expecting the move at the company's Apple Stores, timed to coincide with the release of the newest iPhone models.

TRADE IT IN: What to do with your old iPhone^[1]

Retailers Best Buy, Target and RadioShack currently offer buyback programs, and some wireless carriers do as well. Online sites Gazelle and NextWorth pay cash for phones, and even Apple had already quietly joined in with the little-advertised Recycle program on its Apple.com website. Old iPhones, depending upon the model, can garner from $150 to $350. You can get even more for them if you sell on eBay or Craigslist.

Apple did not spell out how much credit it would offer customers but presumably it would depend on what kind of condition your handset is in, as with its existing Recycle program.

Apple is expected to host an event on Sept. 10 to unveil its next iPhone. Along with an operating system upgrade, rumors suggest the phone will feature fingerprint authentication.

Follow Nancy Blair on Twitter: @nansanfran^[2].