Money, it's what I want! —

Apple will buy back—and recycle—your iPhone 4S

The move could be another indicator that a new iPhone is on the way.

Apple has expanded its iDevice buyback program to include the iPhone 4S ahead of a highly anticipated new iPhone launch. The buybacks are being done through Apple's recycling program, which not only recycles old electronics, but also allows users to trade in their used-but-still-functional Apple devices for Apple Store gift cards. The company made no formal announcement about the addition of the iPhone 4S, but recent retail discounts and rumors of a pending media event have helped to fuel speculation that the iPhone 4S is ready to be replaced.

We recently discussed Apple's recycling program in a piece about places to sell your old electronics. To sell Apple your old iPhone 4S, you are required to answer a number of questions about whether it boots up, has seen any kind of water damage, has scuffs or marks, can hold a full battery charge, and so on. For a 32GB iPhone 4S that works properly, has no water damage, but has a few scuffs, Apple offers $280 in gift cards. (That's not a bad price, considering that many users probably bought their iPhone 4S with subsidized discounts from their carriers. A new 32GB iPhone 4S cost $299 last year from AT&T and Verizon.)

As noted by Macworld, Apple isn't the only one offering to buy back your used iPhone 4S these days. Both Verizon and Sprint are offering trade-ins for store credit, while AT&T might do so if you bring your phone to a retail store for evaluation. But if you have your eyes on an as-yet-unannounced new iPhone, taking store credit from one carrier may backfire later should you decide to switch providers.

Apple's gift cards may be a safer option in that case, but as usual, the amount you get back varies depending on which device you own and how beat-up it looks. The final payment amount is determined by Apple's partner PowerON, which will evaluate your device once you mail it in for inspection.

Channel Ars Technica