The promotion will apply to the iPhone 5, iPhone 4S, and iPhone 4 in conjunction with a two year contract on Verizon, AT&T, or Sprint.
The company is also doing some shorter-term promotions over Memorial Day, cutting the price on several popular but older Android models. From May 26 to June 1, Best Buy is selling Samsung’s Galaxy S III for $49 on AT&T or Sprint, a $50 price cut. Meanwhile, it is offering the HTC Droid DNA for Verizon for $49 ($150 savings) and the HTC One X on AT&T for free (a $100 price cut.)
Notably, discounts on the iPhone tend to be more common leading up to a new version of the device.