Bloomberg:

Apple Inc. plans to introduce a trade-in program for iPhones in China, people familiar with the effort said, after a similar program bolstered sales in the U.S.

Consumers will be able to take older iPhones to Apple stores in China for credit against the company’s products as soon as March 31, the people said, asking not to be identified as the details aren’t public.

And:

Under the China program, retail staff at Apple outlets will assess an iPhone’s condition before offering store credit for those originally bought in Greater China, the person said. Foxconn will buy the phone directly without Apple ever taking ownership, according to the person.

Foxconn will repair the devices if needed and then sell them through its e-commerce sites eFeihu and FLNet, and through Alibaba Group Holding Ltd.’s Taobao online store, one person said. Foxconn also is in talks to sell the iPhones through physical stores and may take the trade-in program online in the future, the person said.