Apple is planning to step up its game in China by launching its own trade-in program in the country with Foxconn for the first time ever.
Foxconn, who manufactures Apple's mobile gadgets, will be accepting older model iPhones from customers in China in exchange for a discount on newer products from the Cupertino company. The Taiwanese manufacturer will then refurbish phones from the trade-in program.
Refurbished models will be sold to interested customers online through Foxconn's shopping site and the Taobao marketplace from Alibaba, which is the biggest e-commerce firm in China.
Apple's trade-in program is running smoothly in the United States, according to Tech Crunch. Rumors have even emerged that the iPhone maker is allegedly accepting Android smartphones for the program.
Buying a brand new iPhone has been branded as similar to purchasing a new vehicle. Apple phone owners trade-in their old phone models to significantly lessen the cost of their upgrade. Apple partnered with Brightstar for the trade-in program in the U.S.
However, reports said that Apple will only be accepting iPhones for its trade-in program in China. There is no confirmation whether the iPad or MacBook Air and Pro will be available to be traded.
Apple is also unclear on what discounts will be given in exchange for the older models.
The tech giant has been doing well in terms of finance. IDC (International Data Corporation) said that Apple's iPhone sales in China suddenly increased by 42 percent in 2014, selling more than 46 million units, according to Bloomberg.
In addition, the market for second hand gadgets has already boomed in Asia. Many are expecting that Apple's trade-in program in China will be well received.