Watch out, rival carriers: T-Mobile has its eyes on your iPhone subscribers. The so-called “un-carrier” on Wednesday announced that it would give new customers an iPhone 5 for $0 down if they trade in their iPhone 4 and iPhone 4S models. The iPhone 5 won’t be completely free, however, because customers will still have to pay monthly charges over a two-year period to pay off the cost of the device. That said, iPhone users who switch from other carriers will still be getting an iPhone 5 for $99 less than current T-Mobile subscribers who want to buy the device and for $199 less than what they’d pay on other carriers. T-Mobile’s full press release is posted below.

iPhone 5 Comes to T-Mobile Friday With New

$0 Down Trade-In Offer

BELLEVUE, Wash. — April 10, 2013 — Delivering on its Un-carrier promise to change how wireless is done in America, T-Mobile USA, Inc. today announced it will supplement its amazing iPhone 5 upfront pricing with a special trade-in offer when the revolutionary smartphone arrives in T-Mobile stores this Friday, April 12.

“Our message to iPhone 4S and iPhone 4 customers is simple: bring in your device and trade up to iPhone 5 on T-Mobile,” said Mike Sievert, chief marketing officer for T-Mobile. “We’re making it incredibly attractive to buy an iPhone 5 by pairing an un-beatable upfront price and trade-in offer with Simple Choice, the most hassle-free and affordable rate plan in wireless.”

The special trade-in offer, which lasts through Father’s Day on June 16, enables well-qualified customers who bring in their iPhone 4S or iPhone 4 to get iPhone 5 for $0 down plus monthly payments, with a no annual service contract Simple Choice Plan from T-Mobile. Depending on the trade-in value of their device, customers will also receive a credit of up to $120, which can be used toward monthly payments, an existing T-Mobile bill, or the purchase of accessories or another device.

Through its Simple Choice Plan, T-Mobile is the only major U.S. wireless company offering iPhone 5 with no annual service contract plus unlimited talk, text and Web on a screaming-fast nationwide 4G network.

With T-Mobile, iPhone 5 customers will enjoy an outstanding 4G wireless experience, seamlessly connecting to both T-Mobile’s existing 4G and growing 4G LTE networks. T-Mobile recently announced 4G LTE service in seven major metropolitan areas, including Baltimore; Houston; Kansas City; Las Vegas; Phoenix; San Jose, Calif.; and Washington, D.C. T-Mobile’s 4G LTE network is expected to reach 100 million people by midyear and 200 million nationwide by the end of 2013. The company’s 4G HSPA+ network reaches 225 million people in 229 metropolitan areas.

Simple Choice

T-Mobile offers iPhone 5 customers one of the simplest and most competitive consumer rate plans in wireless. Rather than providing a dizzying number of consumer rate plans, T-Mobile has just one: Simple Choice.

T-Mobile’s Simple Choice Plan starts with a base rate of $50 per month for unlimited talk, text and Web with 500MB of up to 4G speed data. Consumers can add 2GB of up to 4G speed data for $10 per month per line or get unlimited 4G data for an additional $20 per month per line. Customers can add a second phone line for $30 per month, and each additional line is just $10 per month. There are no caps and no overages.

Pricing & Availability

iPhone 5 will be available nationwide on Friday, April 12 beginning at 9 a.m. at all T-Mobile company-owned retail stores, as well as online. iPhone 5 will be available for well-qualified customers with T-Mobile’s Simple Choice Plan for $99.99 down and $20 per month for 24 months. 0% APR O.A.C.