In its second-largest acquisition, Amazon buys the company for $970 million.
Consumers get gift cards in return as Amazon expands beyond video games and books.
Amazon.com Inc. today expanded its trade-in program to include consumer electronics items as well as video games and books, following the lead of several online consumer electronics retailers.
The products now covered by the Amazon Trade-In program include tablet computers, cell phones, portable music players, cameras and GPS devices. Amazon pays consumers who send in such items with Amazon gift cards.
"Technology is constantly evolving and newer, better versions of consumer electronics are introduced all the time," says Paul Ryder, vice president of electronics for Amazon.com. "We want to give customers the opportunity to get great value from their used electronics. Hundreds of thousands of customers have already received millions of dollars in gift cards from the other products in our program. The electronics category is a natural extension and we are delighted to offer our customers more trade-in options."
Amazon, No. 1 in the Internet Retailer Top 500 Guide, began accepting trade-ins on video games and books in 2009. Among other consumer electronics retailers touting similar trade-in programs on their e-commerce sites are Walmart.com, No. 6 in the Internet Retailer Top 500 Guide, Best Buy Co. (11), Newegg Inc. (12) and RadioShack Corp. (254).
Consumers can search on Amazon.com to find if the items they want to trade in are eligible for the program, and can find the value they would receive by entering the item’s condition. Amazon provides a prepaid shipping label so consumers can send in items at no charge. Amazon says it typically credits a consumer’s Amazon account within 48 hours of receiving eligible items. The items do not have to have been purchased at Amazon.com to be eligible.