In an attempt to keep iPhone buyers from reselling them, Apple Inc. will no longer accept cash for the purchases and limits buyers to two of the gadgets.
Cupertino-based Apple began the new policy last week after previously letting buyers take a maximum of five iPhones and setting no restrictions on how they would be paid for.
The company said it thinks some buyers have resold the phones, sometimes to people wanting to modify -- or "unlock" them -- so they work on other networks.
Currently the only carrier Apple partners with is AT& T Inc.
Apple's chief operating officer, Tim Cook, said the company thinks about 250,000 of the iPhones sold so far have been purchased with the intent to unlock them. ( bizjournals.com )