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Walmart Announces Smartphone Trade-in Program: Up to $300 for New Phone

Walmart is getting in on the smartphone trade-in game with a new program that could net you up to $300 for your used handset. The service, which will launch on Sept. 21, will allow customers to bring their used smartphones to any Walmart or Sam's Club store and get credit toward the purchase of a new device.

Walmart says users could get as much as $300 for an iPhone 5, $175 for a Samsung Galaxy S III or $52 for a Galaxy S2. Naturally, there are some caveats to the deal. Specifically, your handset has to be in working condition and have no serious damaged. Walmart says it's partnering with CExchange, an electronics buyback specialist, to determine the value of trade-ins.

MORE: iPhone Trade-In Programs: Apple vs. the Competition

If your smartphone is accepted, its value will be applied to the purchase of a new handset at Walmart. Walmart says you can buy a new iPhone 5 for $98 or a Samsung Galaxy S4 for $138. Similarly, trade-ins can be applied to prepaid smartphone options from Straight Talk. The company says handsets that are traded in will never see a landfill in the U.S. or abroad, which should make Mother Nature quite happy.

Walmart's program may be new, but it certainly isn't the first to offer such a service. Target has a similar program that lets users trade in any iPhone, iPad, iPods or any other smartphone. Target's program also allows users to trade in their device's toward a new iPhone or iPad or other smartphone. Similarly, Gazella, Best Buy, Amazon and Gamestop offer their own smartphone trade-in programs.

If Apple does indeed launch some new iPhones today, Walmart's program should get some solid attention in the coming weeks.