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As new iPhone nears, old models lose trade-in value

For those who plan to trade in an old iPhone for a new model, it's wise to lock in that buy-back price quote a month early. Also in Update, a look at BlackBerry's fuzzy future and Google's new college textbooks.

CNET Update locks it in:

Now playing: Watch this: Upgrading? Plan now for old iPhone trade-in

In this episode of Update, we plan ahead for the arrival of the next iPhone, which may be unveiled Sept. 10. If true, the new iPhone(s) will likely be in stores by the end of the following week.

Make the most profit on your old iPhone by locking in a buy-back price quote a few weeks before the new iPhone is announced. As we approach the launch day of a new iPhone, the trade-in value of older iPhone models can quickly drop by as much as 20 percent. Services NextWorth and Gazelle will honor a quoted buy-back price for 30 days (but that phone needs to be in the company's hands by day 30). Accounting for shipping times, it might be best to lock-in a quote around August 28, assuming the announcement is Sept. 10 and the phone launches by the end of the following week. (Or sell it yourself on eBay to make more money.)

Also in Update:

- We wonder who will buy BlackBerry as the troubled company weighs its options. And will BlackBerry launch this Z30 smartphone soon? (Or is this just another video of the A10?)

- Can Iron Man save HTC with this $1 billion ad campaign?

- College students may save some moolah by renting a textbook from the Google Play store.


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