I had no idea the replacement was refurbished until the buyer pointed it out, nor did Apple point this out anytime during the replacement process. Apparently Apple has a model number specifically for refurbished items. This was not the case the last time I had an Apple product replaced by Apple, which was an iPad 2 with a bad screen. It came in the same non-retail box, but I was assured by the rep that it was a brand new item and they just came like that to save money on packaging, which made sense. I wasn't aware, nor was I made aware at any point, that this practice had changed since then, and nowhere on the packaging itself was the item identified or described as Refurbished.
As it stands, Apple outright admits that refurbished items have a lower market value than "new" items with the existence of the Refubished Store on their website, which offers items at a substantial discount. At the very least, it is up to Apple at all points of the process to make it clear to the customer that they are getting a refurbished item. They failed to that with me, and apparently everyone involved in this lawsuit, and that's a problem.
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There you go with the whole "greed" angle again. People expecting what they paid for isn't "greed," Jay. Apple replaces items in-store because they know it's their best defense against customers going with third-party options like Assurant, which by the way had a replacement phone to me next day air the last time I used them. The deductible was higher at 149 versus 99, but as far as I'm concerned, the price difference is worth is since Assurant also covers lost and stolen phones as I previously mentioned. Were Apple to cease in-store replacements, they not only lose that "wow" factor of implied superior service, but then also would have to match that same speed of replacement Assurant and others like it offer. Even with small boxes, next day air isn't cheap.