Apple's (AAPL) New iPhone/iPad Trade-In Program in China Met with Weak Reception

Apple (Nasdaq: AAPL) launched its iPhone and iPad trade-in program in China today and reception is said to have been rather weak.

ZDNet said some consumers are being put off by the trade-in credit received for devices. One Sina report had a women say she was stunned that her iPhone 4 was worth only a $40 credit on Apple products.

Apple sells its iPhone 5s for RMB4,488 (about $718) and iPhone 6 Plus for RMB6,088 (about $973).

Pricing comes as Apple is keeping the trade-in program unified globally.

Privately-operated shops are offering just about double what Apple is, according to the Sina report. An iPhone 4S might garner RMB1,100 (about $176), for example.

Shares of Apple are slightly lower Wednesday.

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