Apple Prepping iPhone Trade-In: Rumor

NEW YORK ( TheStreet) -- Apple ( AAPL) is reportedly starting a program to allow users to trade-in their iPhones in an effort to boost sales.

BloombergTV was the first to report the rumor on its Twitter account.

Apple could not be immediately reached for comment on this developing story.

Shares of Apple were off 1.77% to $437.25 in Thursday trade.

-- Written by Chris Ciaccia in New York

>Contact by Email.

If you liked this article you might like

Warren Buffett Is Sticking to His Strengths By Selling IBM and Buying More Apple

Warren Buffett Is Sticking to His Strengths By Selling IBM and Buying More Apple

Buffett Letter to Shareholders May Detail How He Intends to Spend $109 Billion

Buffett Letter to Shareholders May Detail How He Intends to Spend $109 Billion

General Mills Buying a Natural Pet Food Company for $8 Billion Makes Sense

General Mills Buying a Natural Pet Food Company for $8 Billion Makes Sense

Apple's HomePod Is No Amazon Echo-Killer, But It Doesn't Need to Be

Apple's HomePod Is No Amazon Echo-Killer, But It Doesn't Need to Be

Watch Jolt: Snapchat's Stock Gets Shredded While GE's CFO Sorta Shines

Watch Jolt: Snapchat's Stock Gets Shredded While GE's CFO Sorta Shines