Apple’s next-generation iPhone 6 and iPhone phablet are expected to be significantly larger than the company’s current smartphones. Millions of customers will be delighted by the fact that they can now purchase an iPhone with a bigger display, but millions more don’t want a larger smartphone. For them, now may be the perfect time to upgrade their old iPhone 5 handsets — but trading in your iPhone 5 at the Apple Store for credit toward your new iPhone 5c or iPhone 5s is no longer a good idea.

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As noted by Apple fan blog iPhone in Canada, Apple has cut the trade-in value for the iPhone 5 to $225 in the U.S. and Canada, which is down from $270.

As phones get older they obviously lose value, so it makes sense that Apple would make adjustments from time to time. A quick look around eBay reveals that people can still get much more than $225 for their old iPhone 5 handsets, however, so those looking to offload them when they upgrade should definitely consider a private sale rather than an Apple Store trade-in.

Zach Epstein has worked in and around ICT for more than a decade, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.