Microsoft buying iPads for $200 credit

Microsoft is now buying iPads. The company has launched a new promotion where consumers can bring in a "gently used" iPad 2, 3, or 4 to receive a minimum of a $200 gift card to the Microsoft Store.

The promotion is valid through October 27 only at select Microsoft retail stores in the United States, Puerto Rico and Canada, not online. To be eligible for trade-in, the iPads must include a power cord and must not be password-protected.

Microsoft's own Surface tablet line, after recent price cuts, begins at $350 for the 32GB Surface RT, while a 64GB Pro version starts at $800. The price cut came after a March Bloomberg report claimed the Surface tablet line has underperformed for Microsoft.