The electronics retailer says that customers who are eligible for an upgrade on their smartphone or basic mobile phone will receive a minimum $50 trade-in credit (in the form of a Best buy gift card) when they trade in a working phone and upgrade to a new Samsung smartphone and a two-year deal with Verizon (VZ), AT&T (T) or Sprint (S).
One option is the Samsung Galaxy S III. The guaranteed $50 trade-in credit makes the device nearly free as it retails for $49.99 with a new agreement, the company said in printed material. (Customers still have to pay any applicable taxes and fees.)
Other Samsung eligible devices retail between $199.99 and $249.99 with a new activation agreement, according to the Best Buy Web site, meaning even with the trade-in credit, there is still an out-of-pocket expense.The offer is good from Wed., July 24 through Sat., August 3. The phone for trade-in must power on and be free from any screen cracks or water damage. The deal comes on the heels of Best Buy's Apple (AAPL) iPad trade-in promotion. Through Aug. 3, the company is offering a minimum $200 Best Buy gift card for working iPad 2s or third generation iPads. Customers may use the gift card for a 16GB Wi-Fi only iPad with Retina display. The device normally sells for $499.99 but with the gift card, customers will pay $299.99 plus taxes. Best Buy refurbishes the older technology devices and resells them. For those products that can't be refurbished, Best Buy partners directly with a select list of qualified companies for recycling, it says. "Part of our 'Renew Blue' strategy is also partnering with our vendors and we're always looking for opportunities to do that -- which also provides another avenue for us to deliver on our customer promise," Best Buy spokesman Jon Sandler says.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV