Microsoft buying iPads for $200 credit

New promotion valid through October 27 allows people to trade in a "gently used" iPad 2, 3, or 4 to receive a minimum of a $200 gift card to the Microsoft Store.

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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.

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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.

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