Best Buy is offering potential Apple customers a deal to obtain the iPhone 5.

According to Best Buy's offer details, the deal is only for iPhone 4 and iPhone 4S customers who want the latest Apple smartphone.

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iPhone 4S customers can trade in their device and obtain a minimum $200 Best Buy gift card.

Meanwhile, iPhone 4 owners can trade in and obtain a $100 Best Buy gift card.

Upon trading in for the iPhone 5, customers have to sign a two-year contract with AT&T, Sprint, or Verizon Wireless. The deal is not valid for T-Mobile or no-contract iPhone models.

"Device must power on to be considered working. Water-damaged devices and devices with cracked screens are not considered working devices for purposes of this offer. Not compatible with other trade-in offers. Payment is by Best Buy gift card. You are responsible for removing any data from your product before providing the product for evaluation," noted Best Buy as part of their Terms and Conditions for the offer.

The deal has been taking place since Aug. 15 and ends Aug. 18 at Best Buy stores only.

In regards to T-Mobile customers, as Latinos Post reported, the fourth-largest U.S. carrier is offering the iPhone 5's 16GB model for $145.99 down with 24 monthly payments of $21.

The iPhone 5 features a screen size of 4 inches with 1,136x640 pixels at 326 pixels per inch. The internal storage models come with 1GB of RAM but no microSD card slot. The wireless connectivity for the latest Apple smartphone includes Wi-Fi 802.11 a/b/g/n, Wi-Fi hotspot, Bluetooth version 4.0, and USB version 2.0. The camera specifications include an 8 megapixel rear-facing camera with 3,264x2,448 pixels and a front-facing camera with 1.2 megapixels. The smartphone, which launched in September 2012, has 1,440mAh to provide up to 225 hours on standby and eight for talk time when under a 3G network.

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For the latest updates, follow Latinos Post's Michael Oleaga on Twitter: @EditorMikeO