The T-Mobile HTC One S is now available for $199.99 on a two-year contract after a $50 mail-in rebate. The smartphone from HTC’s latest One range features a 4.3-inch qHD display with a resolution of 540 x 960 pixels, a 1.5GHz Qualcomm processor, 1GB of RAM, 16GB built-in storage, an 8MP rear camera along with all of the awesome photo-related features also on the HTC One X, a front facing camera for video chatting, Beats Audio and it will run Ice Cream Sandwich with a not so subtle overlay of HTC’s Sense 4.0 UI.

For a limited time, T-Mobile is also offering a trade-in system for smartphones for any of the three 4G phones currently on sale by T-Mobile, the Samsung Galaxy S2, HTC Radar 4G as well as the HTC One S. If customers take a smartphone for trade-in they will be guaranteed a minimum value of $100 and the number doubles if the device in question is an iPhone. If your device is deemed more valuable than the amount, they will apparently reimburse you accordingly. Smartphones that qualify for the trade-in range from Android, iPhone, BlackBerry, Windows Phone or Symbian 9.0+ devices and customers will be required to sign up for a new two-year contract which is subject to a $300 early termination fee.

While the trade-in system seems very tempting, in essence it is not that simply. To receive the alleged “amount” you must mail in the trade-in handset, trade-in voucher and proof of purchase beforehand. Once the paperwork has been processed in a maximum duration of 60 days, the magenta carrier will mail you a pre-paid debit card for the purchase of your 4G device from T-Mobile. Will you be heading down to T-Mobile to get your HTC One S straight out with a two year contract for $199.99 or will you be going through the trade-in process?

Filed in Cellphones. Read more about Htc One S and T-Mobile.

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