The trade-in-program is officially called the “iPhone Reuse and Recycling Program” and it is available in Apple Stores across the United States. It is powered in-part by BrightStar.
Trade-ins can be conducted on the sales floor, or at the Genius Bar. While Apple won’t be heavily promoting the program with signage at first, Apple Store employees have been told to recommend the program to their iPhone customers.
The trade-in will be performed by Apple Store employees via their EasyPay devices. A customer who brings in an iPhone 3G, iPhone 3GS, iPhone 4, iPhone 4S, and iPhone 5, can receive a gift card that can be applied to a new iPhone purchase.
The new iPhone must be purchased on the same transaction, and the phone must be activated on contract before the customer leaves the store with it.
Trade-In value will be determined based on screen quality, overall hardware quality, button quality, and if the device has or not doesn’t have liquid damage. The trade-in will then be packaged and shipped to BrightStar for recycling.
9to5Mac reports trade-in values are currently hovering around $250-$253 value for a 16GB iPhone 5 in good condition, while a GSM 8GB iPhone 4 will be worth between $120 and $140, with a CDMA version worth around $80.
Calls to various Apple Stores confirmed they are offering the trade-in program.