Best Buy Co., Inc. (NYSE:BBY) is offering a minor upgrade for Apple Inc. (NASDAQ:AAPL) fans. The retail giant is offering a free iPhone 5 with a qualified trade-in. This deal starts on Friday and ends on Monday. This deal will offer a minimum of $100 for any smartphone that works. Since the retailer sells the iPhone 5m(16 GB) for just $99 with two year contract, this makes the smartphone virtually free.

Best Buy Deal: Get Free iPhone 5 For An Old Smartphone

This offer is available at 1,400 Best Buy retail stores and Best Buy mobile stores

This offer is valid with AT&T, Verizon, and Sprint only. New customers will still have to pay sales tax. This offer is available at 1,400 Best Buy retail stores and Best Buy Co., Inc. (NYSE:BBY) mobile stores. Phones that were damaged or have cracked screens won’t be accepted.

The value of the trade-in will vary on things like phone model and current condition. If the phone is worth more than $100, the difference will be placed in a Best Buy Co., Inc. (NYSE:BBY) gift card. Today, the retailer is starting to take in pre-orders for the iPhone 5C, which is set to arrive on September 20th along with the iPhone 5S. The latter isn’t available for pre-order.

Apple introduced their two new smartphones

Since Apple Inc. (NASDAQ:AAPL) introduced their two new smartphones earlier this week, we can expect to find more deals on the iPhone 5. Although this particular offer won’t last long, it’s just the beginning of the markdown mania we will continue to see in the next week or two.

The end of this year looks like it’s going to be a busy one for Apple Inc. (NASDAQ:AAPL). With two new phones and availability on a wide range of carriers, consumers have more choices. They can get the latest iPhone on virtually any carrier with or without a contract. This is a great thing for Apple Inc. (NASDAQ:AAPL), especially since  their top competitors have the market cornered with a wide range of phones. This levels the playing field for everyone and gives the iPhone maker more time to win over smartphone shoppers.