Discount retailer Walmart has announced a new smartphone trade-in program. Beginning on September 21st, participants will be able to get $300 towards the purchase of a new phone. That money is only available as credit towards the new device, however, and there is no opportunity to lock in a quote, as some dedicated resale companies allow.
The timing of the initiative is likely more than coincidental. The new iPhones being announced today
should launch on or around the 20th, and Walmart presumably wants to take advantage of this to both spur new sales and resell cheap hardware. More importantly, Apple recently announced its own retail trade-in plan
, which runs the chance of drawing shoppers away from Walmart.