With new mobile phones appearing on the market as quick as we buy the latest model, many of us will be left wondering what to do with our older model.

Apple might just have a solution for iPhone users, as rumor has it they are to introduce a new trade-in program.

The Apple trade-in program will allow iPhone customers to trade in their old iPhone for a newer model at a discounted price.

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Customers will be able to visit their nearest Apple store, where they will be asked questions about their iPhone and its condition to evaluate its value. Customers will then be offered a price which can vary depending on color, liquid damage and physical condition of the iPhone after being evaluated by an employee. After the evaluation, the customer will receive a gift card which can be used towards the purchase of anew iPhone. The actual trade-in process will become clearer over the next few weeks as more news is slowly being released surrounding the program.

Some sources have stated the price will range between $120-200 for 16GB iPhone 4 and 4S, and a 16GB iPhone 5 in good condition could be priced around $250. These prices could change once the trade-in program is actually launched.

Although Apple already offers a recycling program by mail (though not in-store trading), the trade-in program will be the first for direct trade-in for used devices which according to reports is an attempt to boost sales further.

TechCrunchhas reported that the trade-in program is already in place in some pilot Apple stores.

For many iPhone users, this program is quite exciting. Although users can obviously sell their iPhone privately, which may result in a better deal, this program is very convenient and does take the hassle out of things. The in-store trade-in program will be a walk-in, do the deal and you’re done, which is very convenient for the iPhone customer.

Additionally, we are watching this space to see if there is any hint of Apple offering an escape to the early termination fee with this scheme. Then, Apple customers could really see a benefit of trading in at Apple stores rather than elsewhere if they wanted to purchase a newer model.

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