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Apple Readying iPhone Trade-In Program: Ahead of the Ticker

NEW YORK ( TheStreet) -- Apple (AAPL - Get Report) is said to be readying an iPhone trade-in program aimed at getting consumers to upgrade their smartphones.

According to a report by Bloomberg, Apple has partnered with mobile phone distributor BrightStar to run the program. Brightstar already handles trade-in programs for AT&T (T - Get Report) and T-Mobile (TMUS - Get Report).

Citing anonymous sources with knowledge of the plans, the report said Apple hopes to not only drive iPhone 5 sales through the program but also collect older models to refurbish and sell in other markets.

The program could launch as soon as this month.

Apple already offers a recycling program on its Web site, but the new program is expected to expand into stores as well as give the company increased inventory to sell in emerging markets.

Seed company Monsanto (MON - Get Report) is being sued for allegedly failing to prevent regular wheat from being contaminated by genetically altered wheat.

The lawsuit comes after genetically engineered experimental wheat was discovered in a field in Oregon. The U.S. Agriculture Department said last Wednesday that the genetically engineered wheat was the same strain as one designed by Monsanto to be herbicide-resistant. The wheat was modified to withstand Monsanto's Roundup Ready weed killer. The wheat was tested through 2005 but never approved by the U.S. to market for planting.

The Center for Biological Diversity has sued Monsanto, saying in its complaint: "Because scheduled shipments already have been postponed and canceled, the presence of genetically engineered wheat has detrimentally impacted the domestic and global wheat markets and damaged plaintiffs and other wheat farmers."

It is believed to be the first lawsuit to be filed as a result of the discovery of the modified wheat.

Japan has already stopped imports of western-white and feed wheat, while South Korea has halted its purchase of U.S. white wheat. Taiwan has asked for U.S. imports of wheat to be labeled by the state of origin.

According to Monsanto, the experimental wheat may have infiltrated its regular wheat field via an "accidental or purposeful" act. How the modified wheat got there is currently under investigation.
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AAPL $117.81 0.00%
MON $95.43 0.00%
T $33.57 0.00%
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