However, that credit can only be used toward the purchase of a new iPad 4. Still, that credit could reduce the cost of the lowest-priced iPad 4 (16GB, wi-fi only) from $499 to $299.
In addition, that $200 offer is the minimum a customer would receive. Depending on the model and condition of their iPad 2 or 3, a customer could receive an even higher trade-in. The promotion runs from Tuesday, July 23 through Aug. 3 and is available at all U.S. Best Buy stores and Best Buy Mobile stores that offer trade-ins.
Best Buy ran the same program earlier this month, though only for two days. The promotion did quite well, which -- in addition to possible inventory reduction -- could be seen as the reason behind its revival.
A Best Buy rep said the following in a statement:
Based on the success and customer excitement we saw around our two-day iPad Trade-In offer July 12 and 13, Best Buy is repeating the offer starting today for two weeks.Inventory reduction or not, Best Buy said that its biggest day for its trade-in program occurred during a recent promotion that gave customers a "free" iPhone 5 when they traded in a working iPhone 4 or 4S, so these sorts of trade-ins -- which admittedly, also work well for retailers, as they give them units they can refurb and sell for a profit -- seem to be working well.