Best buy's iPhone trade-in offer is back

Best Buy will offer you $150 minimum for an iPhone 4S in “Good” condition... An iPhone 5 on-contract costs $199, but Best Buy currently offers a separate $50 off iPhone 5 campaign, so, before taxes and such, these programs combined can yield about $200 off of an iPhone 5 purchase.
— Best Buy
Source: Apple

Source: Apple

As a follow up to yesterday's article, here is a tidbit from 9to5mac on Best Buy. Looks like they are getting back the iPhone 4 and 4S trade-in for $150 credit towards iPhone 5, that itself has $50 slashed from its original price of $200. So essentially you get a new iPhone 5 for free if you have an older iPhone 4 or 4S. 

However note that all these promotions are because Apple is expected to release a new iPhone in the fall of this year. So if you buy a new iPhone 5 now, it will soon be a year old model. Also trading in an iPhone 4 is more profitable than iPhone 4S with this deal. 

Also just noted that you can actually get more than $150 for your trade-in and can get a Best Buy gift card, ok then trading in your iPhone 4 or 4S should not make a difference.  

If your phone is worth more than $150, the difference will be applied to a gift card, not a higher-end iPhone 5 model.
— Best Buy