Microsoft has started a new trade-in program. The Redmond-based company will offer consumers a minimum of $200 for their gently used iPad 2, 3, or 4.

The offer ups the rivalry between Apple and Microsoft as Apple's hold on the tablet market continues to slip.

According to Venture Beat, Apple's market share of tablets dropped from 83 percent in 2011 to 59 percent in 2012. This comes tablet use actually increases.

Later this month, Microsoft is expected to announce updates to the Surface RT and Surface Pro tablets.

Microsoft will give customers gift cards for the trade-ins that can be used in Microsoft stores. Customers are encouraged to purchased the Surface.

The offer runs through October 27, 2013 in select U.S. retail stores.

Read or Share this story: