On its online store this week, Microsoft (NASDAQ:MSFT) said it will offer a minimum $200 gift card to customers who trade in their "gently used" iPad 2, 3, or 4. The gift cards can be used to purchase a Surface tablet or other products in the Microsoft store.
According to Microsoft's website, the offer started on Sept. 5 and will run until Oct. 27. The exchange is available in select Microsoft retail stores in the U.S., Canada, and Puerto Rico.
The company said that the power cords should be included with the iPad exchange if they're available. Only one iPad per person can be traded in and the devices cannot be password-protected.
Although Microsoft said it will give customers a minimum of $200, it did not specify what the maximum gift card amount would be. On its website Microsoft said in the fine print that, "Microsoft Store gift-card value will be equal to trade-in value, and is subject to Microsoft's discretion and manager approval."
Microsoft may be looking to boost Surface tablet sales with the trade-in program, as sales of the device have been low. The Surface RT starts at $349 and the Surface Pro at $799. Microsoft will refresh its Surface devices at an event later this month.
Fool contributor Chris Neiger has no position in any stocks mentioned. The Motley Fool owns shares of Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.