iPhone 5 Release: Apple to Offer Money for Used iPhone 4

In a new hint that the much anticipated release of the iPhone 5 will definitely happen before the end of the year, it has been reported by iDigital Times that Apple will be offering $345 for each used iPhone 4 when lucky customers buy their new iPhone 5.    

The offer is valid for devices in good condition, through Apple's recycling program. For those interested in the trade in, Apple has set up a "Reuse and Recycle" website that customers can visit, and through the use of a "wizard" find out whether they'll receive the $345 -- or a lesser amount -- according to the condition of their current device.  

The customers will be able to use the Reuse and Recycle website to select the model, color and condition of the iPhone 4 they want to trade in. The website will then generate a price that it believes your iPhone is worth. The 64GB iPhone 4S in "great condition" will earn customers the full amount. 

The iPhone 5 release date is reportedly scheduled for September 21, according to Tech Crunch and "a reputable source from Verizon." Although the price of the iPhone 5 has not been determined, rumor has it that the new incarnation of the coveted device will cost approximately $800. Given that previous models were in the $500-&600 price range, the iPhone 4 "rebate" will even out things nicely for highly valued tech company.