Apple Scrapping 10% Restocking Fee On Verizon iPhone Launch Day

Apple is said to be scrapping restocking fees for returned products at their retail stores, a process which previously would have seen regretful shoppers charged 10-percent. According to 9 to 5 Mac, as of January 11 there will be no more restocking charges, though the 14-day return period will still apply. The change in policy will coincide with the expected debut of the Verizon iPhone this week.

It's not hard to see Apple's change in policy as a way for new iPhone 4 buyers – who might have opted for AT&T having had no other option in the US – the opportunity to return the handset and later pick up a Verizon version, with no cost penalty. The Verizon iPhone itself isn't expected to go on sale until the end of the month, when the carrier is tipped to be offering it with unlimited data.