iPhone 4 triggers record trade-ins

Apple's announcement of the iPhone 4 has triggered a frenzy of trade-ins of older iPhones, according to US reports

Apple's announcement of the iPhone 4 has triggered a frenzy of trade-ins of older iPhones, according to US reports.

The number of people ditching their older iPhones is ten times higher than when the iPhone 3GS was announced in 2009 and 11 times higher than just before the iPhone 4 was announced, said US consumer trade-in service Gazelle.

But the main reason for the trade-ins is not necessarily to upgrade to the latest iPhone model, said Gazelle. Many of its customers are simply looking for the best trade-in offer before the price falls, the company said.

Gazelle expects the prices of older iPhones to drop rapidly in the coming weeks, so owners of older iPhones are scrambling now to get the best trade-in offer they can.

The iPhone 4 goes on sale 24 June and will be available in black or white at $199 for the 16GB model and $299 for 32GB in the US.

UK pricing is expected to be revealed later today when pre-orders open for the UK, US, France Germany and Japan.

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