With the iPhone (News - Alert) 5 finally hitting shelves and flying off equally as fast, many users are looking to upgrade their current phone. However, what becomes of their old iPhone 4 or iPhone 4S? One of the most common answers is to sell the phone, ideally to help pay for the upgrade. This, however, becomes an issue with the iPhone 5 because of how quickly it sells out and how long it may take for providers to restock. During this time period, your old iPhone loses resale value. Hoping to give consumers a better deal, Gazelle has announced that they have extended their price lock program for 40 days.

"Historically, we've seen the value of used iPhones and other smartphones drop by up to 25 percent in the week following an iPhone launch," said Sarah Welch, chief marketing officer at Gazelle. 

"At Gazelle, we're dedicated to providing an awesome customer experience. We want to be sure our customers have the best of both worlds: the opportunity to lock in at today's value while also keeping their current phones until the new one is in hand. To continue to deliver on that promise, we're extending our industry-leading price lock guarantee to allow customers who lock in their offer this week to deliver their old iPhones to Gazelle up to 40 days after locking in their offer."

To take advantage of this offer, consumers need to head to Gazelle’s website and provide information such as the year of their iPhone, the carrier, and the phone’s condition. Gazelle will then quote a price and provide shipping materials. Anyone who completes an online trade in between September 20 and 28 will have their quoted price locked in for 40 days.

In doing this, Gazelle is allowing consumers to take advantage of their iPhone’s current value and allowing them to keep their phone until they have a new one in hand.

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO West 2012, taking place Oct. 2-5, in Austin, TX.  Stay in touch with everything happening at ITEXPO (News - Alert). Follow us on Twitter.