Best Buy to Sell Used, Lower-Priced iPhones

The retailer has begun selling refurbished iPhones from Apple for $50 less than new iPhones, a report says.
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Best Buy

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has begun selling refurbished versions of

Apple's

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iPhone 3G at its stores that are priced about $50 less than new iPhones, according to a report Tuesday.

Reuters

reports Best Buy said the used iPhones, which were returned within 30 days of purchase, are priced at $149 for models with eight gigabytes of storage, while the 16-gigabyte version is $249. A two-year service contract with

AT&T

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is required.

New iPhone 3Gs currently sell for $199 and $299 at Best Buy Mobile stores, according to

Reuters

.

"This is focusing on customers' needs, trying to provide as wide a range of products and networks for our consumers," said Scott Moore, vice president of marketing for Best Buy Mobile,

Reuters

reports.

AT&T, the exclusive wireless provider for the iPhone, offers refurbished iPhones online.

The sale of used iPhones comes as Best Buy, the top consumer electronics chain, seeks ways to fend off increased competition from discounters such as

Wal-Mart

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, which began selling the popular phone late last month, the report adds.

This article was written by a staff member of TheStreet.com.