It's been confirmed this morning that Apple retail stores will be launching their first iPhone trade-in program today. This program will allow iPhone owners to bring in gently used iPhones to Apple retail locations to receive credit at the Apple store that'll be good for use in purchase of a new iPhone model. This trade-in program is said to be good only with a new cellular contract in-hand - that is, you can't just head in to an Apple store and expect to leave with an Apple gift card.
Confirmation of this in-store program has come this morning from CNBC - the online program already in place has been up for some time. This program is set to be similar to the iPhone Reuse and Recycling Program already online for many Apple products, and will be taking place here in the weeks before the launch of the next-generation iPhone. This program will be taking advantage of the large second-hand iPhone market already making waves in many retail locations for 3rd party brands across the United States.
Similar trade-in programs are already launched with brands like Amazon.com, Best Buy, and Gazelle, though Apple's program appears to have different trade-in values from the rest. Groups like NextWorth, Radio Shack, and Verizon are also on this trade-in boat with their own offers as such. Prices for the 16GB iPhone 3GS appear to hover around $30 USD while the 16GB iPhone 5 generally fetches closer to $300 USD in general.
The Apple iPhone Reuse and Recycling Program is said to be offering the following prices for the 16GB iterations of the iPhone 5, 4S, 4, and 3GS, respectively: $336, $221, $151, and $52. These prices are the maximum trade-in values offered by the store, and are set to be given in value toward a newer-model iPhone only.
UPDATE: To clarify - the prices quoted above come from Apple's already-in-place Reuse and Recycling Program online through PowerON. This system may not reflect trade-in value offered with Apple's new system appearing this week in-store.
"iPhones hold great value. So, Apple Retail Stores are launching a new program to assist customers who wish to bring in their previous-generation iPhone for reuse or recycling. In addition to helping support the environment, customers will be able to receive a credit for their returned phone that they can use toward the purchase of a new iPhone." - Apple
UPDATE 2: Apple has provided a statement on the program which you'll be able to see above. We'll be following up with official pricing structures for this in-store trade-in program as soon as possible.