Customers will be able to trade in a working iPhone 4 or 4S, earning a credit of up to $150, which can then be put towards the purchase of an iPhone 5, which is priced at $149.99 for the 16GB version. The discounted price includes a $50 instant rebate that will last until the end of the promotion, on June 29.
Prices include a two-year contract with Verizon, AT&T, or Sprint. Phones that carry a trade-in value over $150 will have the remaining value applied to a gift card, and the credit applied will depend on the phone's condition. Trade-ins over $150 cannot be applied to a higher capacity iPhone.
The promotion, which will begin on June 21 and last for nine days, is only good in Best Buy Stores or Best Buy Mobile locations.