WAIT!!! before you get too excited, its only in the US for now that you can now trade in your smartphone at an Apple (AAPL, Tech30) Store for a credit toward a new iPhone.
Prior to this time, Apple only accepted iPhones as trade-ins but now only "select" phones are available for the deal, and you can only get a credit for it if you show up at an Apple Store.
According to reports form CNN, at any Apple Store, you can use your Android, BlackBerry or Windows Phone to get a credit for an iPhone 5C, iPhone 6 or iPhone 6 Plus but not an Apple Watch.
So I ask again, would you be interested in trading in your old phone for a new iPhone?
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