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Samsung Galaxy S5: How To Get It For Free

Updated from 10:41 a.m. to include information from Verizon Wireless.

NEW YORK (TheStreet) - Customers who trade in their working smartphone at Best Buy (BBY - Get Report) could potentially get a free Samsung Galaxy S5 depending on the value of the device they trade in.

Customers who trade in their current smartphone at a participating Best Buy store can receive a credit of up to $200 when trading up to the Galaxy S5. Best Buy is selling the smartphone, available in Shimmery White and Charcoal Black, for $199.99 so long as customers also accept a two-year contract with AT&T (T), Sprint (S) or Verizon (VZ). The deal is in stores only. Devices must power on to be considered working and water-damaged or cracked devices are not considered working for this offer, Best Buy says.

(A tip from TheStreet: in order to get the full $200 trade-in value, devices likely have to be in "new" condition and any taxes and fees will still apply.)

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Customers can also purchase Samsung's Gear 2, Gear 2 Neo and Gear Fit wearable devices at any of the more than 1,400 Best Buy and Best Buy Mobile stores and online.

  • The Gear 2 is available in Black, Brown Gold and Orange for $299;
  • The Gear 2 Neo is available in Black, Gray and Orange for $199, available online only; and
  • The Gear Fit is available in Black for $199.

The Galaxy S5 officially went on sale on Friday, and Best Buy is touting its in-store experiences as the place to get Samsung's flagship phone. Select Best Buy stores around the country were already allowing customers to test out the new device and wearable devices before Friday's launch.

Best Buy is also promoting the HTC One M8 through AT&T, Sprint and Verizon. The Gold HTC One M8 is available only at Best Buy for all three carriers. Verizon HTC One M8 phones are available for $149.99 (a savings of $50) through May 12 with a two-year contract, the company said.

For the month of April, customers who purchase an Apple (AAPL) iPhone 5S with a Sprint contract through Best Buy will get $50 off the price of the device, making it $149.99. Apple iPhone 5C devices are $49.99 after savings when purchased with a two-year contract with Sprint. The offer is not applicable with Sprint Easy Pay installment billing options.

Finally, with Microsoft (MSFT) ending support for Windows XP, Best Buy is offering customers who trade in their old Windows XP laptop a $100 credit toward a new Windows computer, Apple computer or Google (GOOG) Chromebook. The deal is available through April 19, 2014.

Best Buy isn't the only place to get a deal on a new Galaxy S5. Verizon Wireless is offering customers who purchase the new device with a two-year contract, a second one for free, also with a two-year contract. Verizon Wireless is selling the device for $199.99 after a $50 mail-in rebate. Customers can also choose a Samsung ATIV SE or HTC One M8 for the second device, according to Verizon's Web site.

Target (TGT) said earlier this week that customers who trade in a working smartphone at a Target store are guaranteed a $100 credit toward the purchase of the Samsung Galaxy S5. That means the phone itself will cost $99.99 plus taxes and fees after the $100 eligible trade-in credit, so long as customers activate a new two-year contract on Verizon, AT&T or Sprint. The offer is good through Saturday, April 26.

--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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