New iPhone unveiled; Walmart launches trade-in program

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By Tami Hoey By Tami Hoey

PHOENIX -- It's the product release Apple fans have been anticipating. 3 On Your Side has reported on the buzz surrounding the new Apple iPhone. And today came the big announcement, as Apple C.E.O. Tim Cook introduced the iPhone 5C.

The new phone comes in five different colors, and prices start at just $99.00.

Apple also unveiled the 5S, that comes in three different colors, and has increased processing speed and a fingerprint scanner that can unlock the phone.

The 16-gigabyte version starts at $199 with a new two-year contract. The 32 and 64 gigabyte versions will cost more.

And Walmart wasted no time trying to cash in on today's big announcement. The retailer is now the largest company to launch a trade-in program to offer credit for old smart phones. Starting September 21, customers can bring their old smart phones into Sam’s club and Walmart. More than 100 devices can be traded in for $50 to $300.

Here are some sample prices: a 16 gig model of the AT&T iPhone 5 comes in at $300, and the Samsung Galaxy S-3 gets about $175.

There is a catch though. Credit from a traded-in smart phone can only be applied to the purchase of a new smart phone. The new iPhone goes on sale September 20, with Apple taking pre-orders beginning Friday September 13.