Best Buy lops half off iPhone 5 in trade-in deal

The company is offering the deal from Friday through Monday for customers who trade in an iPhone 4 or iPhone 4S.

Sarah Tew/CNET

Apple iPhone 4 and iPhone 4S owners can get their hands on a new iPhone for a pretty sweet price.

Best Buy on Thursday announced that current iPhone 4 or iPhone 4S owners who trade in a working handset between Friday and Monday will receive at least 50 percent off the purchase of an iPhone 5 16GB or 32GB smartphone. The deal is available only with a two-year activation.

Best Buy's deal comes with a guaranteed $100 credit on the iPhone 5 16GB model. The 32GB option will receive a minimum $150 trade-in credit. That means trade-in customers can get the 16GB option for at most $99.99, while 32GB buyers can get their hands on the device for $149.99, at most.

The timing on Best Buy's announcement is likely not coincidental. Apple is expected to announce a new iPhone on September 10. The retailer might be trying to convince consumers to buy an iPhone and deplete its stock before the new iPhone launches.

Featured Video

Leaked photos show off the actual Samsung Galaxy S7

Galaxy S7 pics are in the wild, the S Pen could bring something new, and Google is working on Android VR

by Brian Tong