iPhone 5 Rumors Cause Spike in Trade-Ins

It’s widely rumored that Apple is planning to release a new iPhone in September, and now it looks like pretty much everyone believes the rumor. Ebay has reported seeing a spike in users selling off their old smartphone. Yes, this is a little early, but given the hype from all the many gadget blogs covering the story I’m not surprised.

According to Ebay, submissions to its trade-in program spiked 70% this week over the previous week. Cnet has more detail:

The company says that during that span “nearly” 100,000 smartphones were offered up for trade-in by people using the company’s Instant Sale program. Among the Apple phones that people offered to trade-in, eBay says the 16GB model of the iPhone 4S tops the list, followed by the 8GB iPhone 4 and 32GB iPhone 4S.

Ebay hasn’t seen a similar spike in trade-ins since last year. Apple unveiled the new iPhone in early October and close to 375 thousand smartphones were traded-in in the next several days.