After a few weeks of rumors and speculations, the new iPhone buyback/upgrade system will infact begin at Apple stores today. It was CNBC that confirmed the details earlier today. The Apple iPhone trade-in program is called the “iPhone Reuse and Recycling Program”.
The program will start being implemented in Apple stores across the nation. Reports on pricing are muddled, mostly because the plan is just rolling out, and because the condition of your phone is such a large factor. As of right now it is understood that trade-ins will be honored for iPhone 3G through iPhone 5. When trading in your phone you will get a gift card for the determined value of your specific device.
The devices are given to BrightStar for recycling, we will update this article with more exact information when Apple releases a statement on the matter.