Remember the other day we reported that Sprint could be introducing an iPhone trade-in promotion? As it turns out the leak was right on the money and Sprint has since announced the trade-in program. For those who might have missed the news, this is a promotion held by Sprint that will offer iPhone users a chance to trade-in their device for a brand new iPhone 4S with $100 credit towards the phone along with a new two-year contract. This is to help attract iPhone users on other networks who might have an older iOS device and who are looking to upgrade without having to spend too much money.

According to the folks at TNW, the new iPhone has be activated by the 3rd of July and trade-ins have to be completed by the 14th of August. If your iPhone does not manage to reach $100 in value, Sprint will offer you account credit up that will basically ensure that you will get your $100 worth either way. If you’re interested, listed below are a couple of ways you can go about claiming your new iPhone 4S on Sprint’s network (via TNW):

  • Save in store:
  1. Reserve your iPhone 4S online at www.sprint.com (excludes upgrades)
  2. Bring your old iPhone with you to a Sprint store
  3. Save $100 instantly when you activate a new line of service!
  • Save Online
  1. Go to sprint.com/iPhone to buy your iPhone 4S through our online store and open a new line of service (excludes upgrades)
  2. After you receive your new iPhone, visit sprint.com/buyback and click Trade in my device to receive a shipping label via email. (Note: If your Buyback value is less than $100, we’ll make up the difference with an additional account credit. You’ll need to activate your new phone by 7/3/12 and trade-in by 8/14/12.)
  3. Receive a credit on your bill within 2 to 3 billing cycles. Your credit may be spilt into 2 payments. Please wait the full 3 month billing cycle to receive your full $100 credit.

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