Walmart Launches Smartphone Trade-in Program

Walmart Stores Inc. (Bentonville, Ark.) has launched a smartphone trade-in program in the U.S.

Starting Sept. 21, 2013, in more than 3600 Walmart stores and Sam's Club locations, consumers will be able to get an instant credit of between $50 and $300 for trading in their smartphones. That credit will then be immediately applied to the purchase of a new smartphone.

Walmart said the devices being traded in need to be in good, working condition but otherwise there are few restrictions to the program.

“We aren't going to be nitpicking the customer on 'Is it scratched,' or 'does it have stickers on it?' ” said Steve Bratspies, evp of general merchandise for Walmart U.S. “We are going to ask five really simple questions, like, 'Does it turn on? Is the screen cracked? Are the security codes removed from it?' Really basic questions.”

The market researcher, NPD Group, has said that 55 percent of consumers expect to trade-in a phone the next time they upgrade devices, and 62 percent say they will consider a different retailer if it means getting a better deal on a smartphone trade-in.