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iphone5-frontandbackThat old T-Mobile G1 you have sitting in the top drawer of your dresser may be your key to a free iPhone 5, thanks to a new program from Best Buy.

According to a report by GigaOm, Best Buy is guaranteeing $100 in trade-in credit for any working smartphone if you put it towards the purchase of a new iPhone 5 with a two-year contract from AT&T, Verizon or Sprint. Conveniently, that’s the current retail price of a 16 GB iPhone 5. If Best Buy determines that your old phone is worth more than $100 in trade-in credit, you’ll get a Best Buy gift card for the remainder of its value.

It’s an understandable move for the electronics retailer, which probably wants to sell off its iPhone 5 inventory as quickly as possible, since the iPhone 5C took the place of the 5 in Apple’s smartphone line-up.

But, if you don’t mind picking up last year’s hardware, this deal could be a great way to turn that old Blackberry into a free phone. You’d better hurry, though: Best Buy’s deal only lasts until Monday.

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