RadioShack announced a trade-in policy for used electronics and computer gear whereby consumers can get credit for their used products after Radio Shack has assessed their value.

Announced Tuesday, the RadioShack Online Trade-In Program will accept products from certain suppliers and in return consumers will receive a RadioShack gift card for the amount agreed on for the trade-in.

"We know that consumers are looking for innovative ways to save money," said Peter Whitsett, the firm's executive VP of merchandising, in a statement. "And we think this program will help them stretch their dollars in time for the holiday shopping season at their neighborhood RadioShack."

In the program, consumers are led through a series of menus on the RadioShack home page. The companies participating in the program include Apple, Archos, Creative, Dell, iRiver, Microsoft, Philips, RCA, Samsung, SanDisk, Sony, and Toshiba.

Products that are listed as acceptable for trade-in range include laptops, MP3 players, camcorders, cameras, phones, game media, and GPS systems.

After logging on to the site, which was not fully functional Tuesday, consumers with products to trade are asked: "Is unit fully functional?" Next, they are asked to rate the condition of the product.

After a product has been deemed acceptable, a consumer prints out a prepaid shipping label and, after receiving an e-mail notification from RadioShack, the used product is shipped off to RadioShack. The company said it sends an e-mail notifying the consumer that the trade-in product has been received and issues a gift card within 10-14 days. The card can be used for purchases in RadioShack stores.

The company noted also that the program has an environment-friendly aspect, as it can take older technology products out of circulation.