UPDATE: Sprint confirmed the promotion today with an email to 9to5Mac:

Beginning today, May 18, for a limited time only, customers can bring in their current iPhone from any other carrier to a Sprint store (or online and telesales) and receive at least $100 off the purchase of a new iPhone 4S (excludes upgrades) with a new line of service and two year agreement. Below are the two ways people take advantage of this limited time offer:

  • Save in store:
  1. Reserve your iPhone 4S online at www.sprint.com (excludes upgrades)
  2. Bring your old iPhone with you to a Sprint store
  3. Save $100 instantly when you activate a new line of service!
  • Save Online
  1. Go to sprint.com/iPhone to buy your iPhone 4S through our online store and open a new line of service (excludes upgrades)
  2. After you receive your new iPhone, visit sprint.com/buyback and click Trade in my device to receive a shipping label via email. (Note: If your Buyback value is less than $100, we’ll make up the difference with an additional account credit. You’ll need to activate your new phone by 7/3/12 and trade-in by 8/14/12.)
  3. Receive a credit on your bill within 2 to 3 billing cycles. Your credit may be spilt into 2 payments. Please wait the full 3 month billing cycle to receive your full $100 credit.

TechnoBuffalo reported that an upcoming Sprint trade-in promotion will allegedly give existing iPhone owners at least $100 toward an iPhone 4S—if they sign a two-year contract and open a new line of service. The deal will supposedly run between May 18 and June 30:

If you’re an iPhone customer considering jumping ship to Sprint, the Now Network’s upcoming promo just might be enough to influence your decision. A trusted source has shared with us that starting on May 18th Sprint will begin offering a minimum of $100 on any iPhone trade-ins towards an iPhone 4S.

T-Mobile offered a similar deal earlier this month, where the carrier promised $200 trade-ins for any iPhone.

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