Radio Shack Offering iPhones for $24

From now until December 11, your local RadioShack is holding an unprecedented sale on the Apple iPhone 4 and iPhone 3GS. It is knocking $50 off the contract price, dropping the 32GB model to $249, the 16GB model to $149, and the iPhone 3GS down to just $49.

Those are the lowest prices from any legitimate, authorized retailer for the iPhone 4 and 3GS.

RadioShack also has a trade-in program that will drop prices further. If current iPhone users trade in their iPhone 3G, they'll receive a credit of $75 (assuming the device works and has an unbroken screen). Customers who trade in an iPhone 3GS in working condition will receive a credit of $125.

Combining the $149 sale price with a $125 credit drops the effective price of the iPhone 4 16GB model to just $24, and the iPhone 4 32GB to $124 (not including taxes and fees).

It is only available at RadioShack's brick-and-mortar retail locations.

These prices are available to new AT&T customers, as well as to AT&T customers who are eligible for an upgrade. RadioShack says the promotion is meant to "boost awareness of its wireless business and create an edge up on the competition."