iPhone 6 release date may happen in less than a week as Apple and Gazelle offer new trade-in programs for old iPhones.

Tech giant Apple has launched its new trade-in program that will allow Apple users to trade their old iPhones in exchange of credit that can be used in buying the upcoming iPhone.

"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," Apple spokeswoman Amy Bessette stated in a press statement.

"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," she added.

According to reports, Apple users can get as much as $280 worth of credit, which can be used in buying the next iPhone.

Apple Stores offer an average of $250 for an iPhone 5, $200 for the iPhone 4S, and $140 for an iPhone 4. However, the credit that you will get from your old iPhone is dependent on the condition of your handset.

IBTimes AU reported last week that Apple will offer a new trade-in program as the company are already conducting training on its in-store employees in order to assist the customers. The announcement came weeks before the alleged iPhone 6 release date on September 10.

Consumers should also look into the offers of online tech trade-in company Gazelle as it already offers a guaranteed trade-in price until October 15. It is not unusual that the value of iPhone 5 will drop as soon as the next iPhone was announced. Customers can now guarantee a lock in price for their handset.

Gazelle accepts all iPhone models except for the first generation iPhone, which was released in 2007. Unlocked iPhones can get a higher trade-in price since it is easier to use with a variety of carriers.

Online retail company Amazon can offer as much as $359 for an iPhone 5, $214 for an iPhone 4S, and $180 iPhone 4.

Users should make sure that they back up their device before trading it or they may lose all of their data.

The sudden ramp in the trade-ins of the old iPhones signals the imminent iPhone 6 release date. It was rumoured that the full-fledged iPhone will be released alongside a cheaper version of the handset on September 10.

According to rumours, iPhone 6 features include a larger screen display; A7 quad core chip paired with 3GB RAM; Near Field Communication; 13MP back camera; up to 128GB internal storage and longer battery life.

Low cost iPhone dubbed as iPhone 5C may include some specs and features such as 4-inch screen display; a dual core processor; 8MP back camera; as well as a cheaper plastic casing. It is reported that the handset will be available in different colours.

However, Apple has not yet confirmed the iPhone 6 release date as well as its specs and features.