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Resale platforms such as Swappa and ThredUP, which provide a channel for product‐holders to sell used products, have become common. Interestingly, in the presence of resale platforms, some firms, such as Apple, set lower rebates for the trade‐in‐for‐upgrade (TU) mode instead of implementing the trade‐in‐for‐upgrade‐and‐cash (TUC) mode as Huawei does. In this paper, we build game‐theoretical models...