Record Number of iPhone Owners Trade in to Fund Upgrade

June 16, 2010 Eight days since Steve Jobs' buzzworthy unveiling of the iPhone 4, upgraders have traded in more than 10,000 2G, 3G and 3GS iPhones to Gazelle (www.gazelle.com), the nation's largest consumer electronics reCommerce service and on the company's new mobile site iphone.gazelle.com where customers can literally trade in their iPhone from their iPhone.

Since June 7th, Gazelle has seen more than 10,000 iPhone trades, greater than 10x the amount received following the announcement of the 3GS last June. Trade-in data has shown the following:

* 3GS: represent 58% of trade ins and today are worth up to $222
* 3G: represent 34% of trade ins and are worth up to $141
* 2G: represent 8% of trade ins and are worth up to $115

While Gazelle expects prices to drop as the launch approaches, the average offer price is still more than $200, allowing many iPhone owners to upgrade for free. Gazelle also offers 30-day offer insurance on your traded-in iPhone, meaning that if the offer is higher on the day Gazelle receives a customer's phone, customers will get the higher offer.

"We're thrilled to help iPhone owners upgrade smart," said Israel Ganot, co-founder and CEO of Gazelle. "What's surprised us is how many iPhone 3GS owners have already committed to upgrading to the iPhone 4. It's much different behavior than we saw when the 3GS was announced, and I think it shows what an impact the iPhone 4 will make when it launches on June 24th."

This year, with so many 2G owners ready to take the leap to newer technology and the discontinuation of the 3GS, Gazelle expects trade-in fever to have an even more noticeable impact on the resale market. Currently its projecting more than 20,000 iPhones will be traded during the next 30-45 days. Gazelle ensures all data is properly removed from every gadget that is traded, and 100% of the items that are sent to Gazelle are responsibly reused or recycled.