Report: Best Buy out with aggressive iPhone offer

|About: Best Buy Co. (BBY)|By:, SA News Editor

Best Buy (BBY) is about to launch a trade-in promotion whereby customers can swap an old smartphone for a $100 gift card that can be used toward the purchase of a new iPhone, according to a screenshot posted by TechnoBuffalo.

Is there a flaw in the promotion? 9to5Mac wonders why an iPhone owner can't grab a cheap Virgin smartphone for around $50 then trade it in for the credit on the new iPhone 5c while keeping the old iPhone in the process.

Best Buy has been coy in the past about margins on its iPhone offers.