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Target Jumps on iPhone/iPad Deal Bandwagon

NEW YORK (TheStreet) -- Target (TGT - Get Report) is jumping on the deal bandwagon with Best Buy (BBY) and Wal-Mart (WMT) in a battle to win the mobile consumer and get rid of excess Apple (AAPL - Get Report) iPhones and iPads.

From now through Saturday, March 15, Target is offering customers a minimum of $150 toward the purchase of a new iPad when they trade in a working iPad 2 or newer version.

Guests will also receive a $30 Target gift card with the purchase of an iPad mini with Retina display Wi-Fi 16GB for $399 or any iPad Air Wi-Fi 16GB for $499. For even more savings, guests can look forward to an additional 5% off when they shop with a Target REDcard, the company said.

The trade-in offer is only valid in stores. Not all Target stores participate in the trade-in program, so check to make sure your local store does.

Target is also looking to boost its trade-in cell phone program. Guests who trade in their used working cellphones through March 22 will receive credit, in the form of a Target gift card, for the value of the device, plus $50 extra for trading in a device toward the purchase of a new iPhone 5s or 5c.

Target is selling the iPhone 5c 16GB for $49.99 with a qualifying two-year plan and data through Verizon (VZ), Sprint (S) and AT&T (T). The iPhone 5s 16GB is on sale for $149.99 with a similar qualifying plan.

Target is still reeling from its security breach late last year in which the company said up to 110 million customers were affected by the data compromise. Sales have been "meaningfully softer" following the announcement on Dec. 19. But sales have started to recover, Target said in its latest earnings report. The company said it was not able to estimate future expenses related to the breach.

-- Written by Laurie Kulikowski in New York.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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