Sprint Will Offer $100 Towards iPhone 4S For Old iPhones

This weekend Sprint will start a promotion that gives new iPhone 4S owners a minimum of $100 towards the phone for their old iPhones.

According to TechnoBuffalo, the promotion will start on Friday, May 18. As part of the promotion, Sprint will offer a minimum of $100 for any iPhone that’s traded in for a new iPhone 4S on the Now Network. Some iPhones may fetch more money, but until Sprint announces the promotion we don’t know how much each iPhone will net new Sprint customers.

Update: Sprint has confirmed the promotion. To get the $100 trade-in users must activate the iPhone 4S by July 3, and the old iPhone traded in by August 14. Sprint will make up the difference if the old iPhone is worth than lass than $100. New subscribers will see the $100 credit added to their account within two to three billing cycles.

The deal sounds great for users considering a switch to Sprint, especially users that are still using an old iPhone 3G or 3GS. Although, users that are still using those iPhones probably won’t mind waiting a few months for the new iPhone that will likely launch in September or October.

Users that are considering the deal should know that Sprint generally has slower data speeds than other carriers. It does, however, offer unlimited data on the iPhone which no other carrier provides. Sprint CEO Dan Hesse even promised that an iPhone 5 with 4G LTE would still have unlimited data plans.

Sprint recently said the iPhone deal won’t pay off for a while, but promotions like this one should bring in more iPhone customers. Giving away money for old iPhones might not pay off right away, but it will help when those new customers start paying their monthly bills.

Users who are looking to buy an iPhone 4S don’t have to rely on Sprint for a discount. Retailers like Target and Radio Shack recently cut prices on Apple’s smartphones on all carriers. The price cuts at are just $50, but buyers are free to choose any carrier between AT&T, Sprint, and Verizon.