iPhone 5 release date: Apple (AAPL) is parterning with PowerOn to buy back used iPhones

With the new iPhone's rumored September 15 announcement coming in weeks, Apple's partner PowerOn is offering up to $345 on old iPhones that are in perfect condition.

The offer is fulfilled through the "Reuse and Recycling Program." Accoring to bloggers using the program, the site has offered $280 for lightly-used 32 GB 4S models. In order to get the $345 quote, the 4S must be in "perfect" condition.

Apple is not involved in the transaction between PowerON, but is partners with the company.

Fore more information, visit store.apple.com/us/browse/reuse_and_recycle

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