Wal-Mart has announced they are joining several other retailers like Apple, Best Buy, Target and Radio Shack, in accepting trade-ins of smartphones for a credit toward the purchase of a new device. Possible credits will range from $50 to $300 for smartphones in working condition and not damaged. The credits can be applied toward the purchase of a new smartphone on two-year contracts with AT&T, Verizon or Sprint, as well as some prepaid plans. Wal-Mart indicates a working, nondamaged Apple iPhone 5 will be good for a $300 credit while a Samsung Galaxy S III will pull in $175.
Steve Bratspies, executive vice president for general merchandise with Wal-Mart says, “more and more, customers are choosing where they purchase new smartphones based on where they'll get the best value for their trade-ins.” Analysts appear to have a positive impression of the move and think it will help Wal-Mart's performance in electronics sales. Even with some weakness in that area, Wal-Mart claims it was the number 1 handset retailer for the quarter that ended June 30th.
Wal-Mart says the new program will start on September 21st at 3,600 Wal-Mart and Sam's Club stores throughout the U.S.
source: Bloomberg
