Apple used to offer iPhone 5 users $270 CDN in trade-in value towards a new iPhone 5s; now it offers $225. Just like that, the company lowered the maximum trade-in value of its 2012 flagship this week, noting the slow depreciation of the device in light of an upcoming product refresh this fall.
The iPhone 5 was released on September 21st, 2012, and was available in Canada starting at $179 on a 3-year term. This past March, Apple introduced the Reuse and Recycling Trade-in Program, allowing users of old iPhones to use its value towards a new product.
Apple is expected to introduce the latest iPhone in early September.
[source]iPhone in Canada[/source]