Walmart Wants Your iPhone, iPad, and Galaxy S3

By Sam Lewis

Retail giant begins electronics trade-in program

Following suit with the ideas of other retailers, like Amazon, Walmart has begun a program called “Gadgets to Gift Cards” asking for your used electronics. The new trade-in program offers consumers an instant credit, via email, to be used at Walmart stores, or Walmart.com, in exchange for your old electronics.

The announcement of the program was made late last week in advance of the expected September 10 release of the next iPhone. It follows a very similar model to other buyback programs, with one added twist — the program’s users can spend the money they receive from their old gadget before Walmart even has possession of it.

Here is how it works: visit Walmart’s “Gadgets to Gift Cards” site and get a quote for your device and its current condition. Once a quote is given, select the “pay me now” option. Pending a credit check (this stops users from scamming Walmart), an e-gift card will be sent just minutes later. Users are expected to send in their appraised devices within 10 days of the transaction. Walmart provides a free shipping label with the deal to maximize convenience for the user. The user’s open credit account will close, and the transaction is considered complete, when the retailer receives the device in promised condition. Similar to defaulting on a credit card, Walmart will put a ding on your credit score and charge a nominal fee for incomplete transactions.

The new program seeks users to trade in MP3 players, cameras, computers, tablets, video games, video games systems, and car electronics. Following the launch of the site through August 25, Walmart is offering top dollar for a few high-end devices in excellent condition. The iPad is receiving $250, the 64 GB iPhone 4s is fetching $225, and Samsung’s 16 GB version of the Galaxy S3 is getting offers of $175.

This new program from Walmart appears to be an effort to boost electronics sales after the retailer reported subpar numbers for the second quarter of 2013. The program may give Walmart’s growing electronics department, with a focus on mobile phones and plans, the added jump it needs going into the holiday season. However, they must tread carefully with pricing on used electronics. Potential users of this program are well aware of the benefits of receiving cash for merchandise on Websites like Craigslist.com, rather than a store credit through Walmart.