Trade in your old iPhone for a new one

SEATTLE -- If you're trying to figure out what to do with your old iPhone, don't worry -- Apple announced plans to start taking trade-ins.

According to Bloomberg, Apple has joined forces with Brightstar, a company that runs similar trade-in programs for carriers like AT&T and T-Mobile. The service would allow iPhone owners to trade in their current phones for a discount on a new phone.

It's part of Apple's plan to combat declining sales. The new trade-in program is expected to start later this month.