Want a free iPhone 5? Try Best Buy's limited trade-in program

Users who trade in a working iPhone 4S or 4 on Saturday will receive a $150 credit for a new iPhone.

Best Buy will offer the iPhone 5 free with a trade-in for one day. CNET

Got an old iPhone lying around? For one day only, you can trade that for a free iPhone 5 at Best Buy.

Best Buy on Saturday will give customers a $150 trade-in credit for any working iPhone 4 or 4S, making the iPhone 5 free. The only out-of-pocket costs for the customer will be any applicable sales tax on the new phone and any applicable carrier activation fees.

Customers must be eligible for an upgrade and activate the iPhone 5 on a two-year contract with Verizon, AT&T, or Sprint to take advantage of the offer. The deal isn't available online.

The move by Best Buy comes as the tech retailer boosts its focus on mobile devices and other hot areas. The tech retail environment is a tough one, and Best Buy itself has been struggling. To avoid "showrooming," where consumers check out products in Best Buy stores but then purchase them online for a lower price, Best Buy now matches online pricing. And as part of its turnaround plan, Best Buy also has voiced plans to feature more partners' products. It recently partnered withSamsung to open minishops within all Best Buy stores.

Meanwhile, Best Buy last week said it would shave $50 off the iPhone 5, 4S, or 4, through June 29.

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