Publications
Publications
- April 2023
- HBS Case Collection
Apple's iPhone Revolution: Pioneering the Circular Economy
By: George Serafeim
Abstract
When asked to identify an example of a circular economy business model that has generated billions in revenues for a company, ChatGPT, the famous chatbot that in 2022 rocked the world with its ability to perform a variety of tasks, immediately identified and highlighted Apple’s iPhone trade-in program. The trade-in program encouraged customers to trade in their old devices, which were then refurbished and resold, or recycled for valuable components. With about 80% of the second-hard smartphone market comprised of iPhone and an increasing percentage of materials being recycled and reused in manufacturing, Apple was making progress towards circularity.
Keywords
Iphone; Smartphone; Waste Management; Recycling; Innovation; Product Upgrade; Product Life Cycle; Sustainability; Climate Impact; Digital; Business Model Innovation; Climate Change; Information Technology; Business Model; Electronics Industry; Information Technology Industry
Citation
Serafeim, George. "Apple's iPhone Revolution: Pioneering the Circular Economy." Harvard Business School Case 123-089, April 2023.