The tech giant will team with Brightstar Corp., which runs other companies phone trade-in programs, to get American users to bring in their old devices and upgrade to the iPhone 5, Bloomberg reported Thursday.

Apple will then take those devices and sell them refurbished in emerging markets, where Apple has struggled thus far and the demand for cheap devices is high, Bloomberg says.

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Apple and Brightstar did not comment on the report.

The iPhone launched in 2007, and until now, Apple has never done a trade-in program for the device. However, in recent years, its competitors, particularly Samsung, have caught up, and as a result, Apple has seen its growth slow. A trade-in program could help turn that around.

The trade-in program would be available at Apple stores, allowing users to easily exchange their old iPhones for new ones.

Apple is scheduled to hold a keynote event Monday at 10 a.m. at its Worldwide Developer Conference. The company may decide to include the announcement of a trade-in program during the event.