It's been a while since apple has been buy damaged products in exchange for credit from it's customers.The reason for buying damaged products was to repair them and sell them back in market under a banner "Refurbished", these refurbished goods are so to speak are second hand and were damaged(at one point) but are repaired to it's fully functionality status and resold and cut-price. This Marketing strategy was successful as it made it affordable for a lot of people to purchase refurbished good and enjoy the same material at lower price.
Apple Inc. was happy as it was now able to target the class which otherwise wouldn't buy expensive products and it made customer happy cause now they can have the same thing but only is refurbished for lower rate as a result Apple Inc. sales went up.
Apple Inc. set certain guidelines for buying damaged products and assigned credit accordingly.But Apple Inc. Sales have taken a hit and investors are worried if the effects will be long-term. So Apple renewed the guidelines for Iphone. Previously If one had an Iphone with working Display, Camera and buttons he could get a credit upto $350 and then credit value falls as the damage increases. But since the hit on sales of Iphone Apple seems to have renewed these guidelines so as to make it easy for customer to exchange or upgrade to new models, as of this moment I don't have specifics to new guidelines but be on the lookout if you make up your mind to buy an Iphone or wanna upgrade to new one .
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