iPhone 5S Release Date Imminent as Apple Buys Back Old Devices

**Editor’s Note:


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Just how much is your old iPhone worth?

Apple came about as close as it ever will to confirming the pending release of the iPhone 5S at least ahead of the device’s official unveiling, expected Sept. 10 by introducing a trade-in program for older models of the smartphone on Friday. The Silicon Valley giant is giving customers a credit toward the purchase of a new iPhone if they turn in an old one, and Apple spokesperson told Reuters.

There’s a serious market for old iPhones. Vendors like Gazelle have made a ton of money by buying them, freshening them up and reselling them to wholesalers. The company believes the market for used tablets and smartphones will be worth $14 billion just two years from now.

Elsewhere on the iPhone 5S front this week, it was fairly quiet. The most significant speculation once again surrounded the color options you’ll have. After photos of a supposed gold device emerged a week ago, graphite was the color of choice this week. And while the prospect of new hues comes up about this time every year, Apple hasn’t yet strayed from the traditional black or white at least not on iPhones. iPods have been available in many colors for years.

The most ridiculous rumor of the past seven days?: Apple will announce the new iPhone on Labor Day. That’s just three days from now. Not happening.

Discussions surrounding the so-called iPhone 5C a cheaper version of the iconic smartphone aimed at emerging markets were fairly muted this past week, but more analysts chimed in to say it won’t be as inexpensive as you would think; in fact, it could be priced too high to be successful in regions where most buyers don’t have a lot of money. Of course, this phone might be nothing more than a myth.

The overwhelming prediction for the iPhone 5S’s (if that’s what the new flagship phone is even called) first day of sales is Sept. 20.

Follow senior online managing editor @Craig_Galbraith on Twitter.