In an attempt to exploit on the already booming second-hand iPhones market, Best Buy Co. Inc. announced on Tuesday its plan to sell refurbished iPhone 3G handsets at its stores. The term 'refurbished' phones includes those devices that users return after the standard 30-day trial period.

According to Best Buy, the phones can easily be categorized as "in like-new operating condition."

The refurbished iPhones can be purchased at a price $50 less than the cost of the new models. As such, this implies that a refurbished 8 GB model will be available for $149 and the 16G model for $249.

For a price at par with Best Buy, AT&T already sells refurbished phones online. Though Apple too has been selling used phones on its Web site, it presently does not have any such device available for sale.

The earlier-owned phones come with a one-year warranty, and each of these requires a two-year service contract with AT&T.

To begin with, the refurbished phones would be available at 350 Best Buy stores countrywide, and by this month's end, all Best Buy stores that offer AT&T would sell them.

In a statement, Best Buy Mobile's vice president of marketing, Scott Moore, said: "The refreshed iPhone is a great example of the depth of our offering, and clear evidence of why Best Buy is the best place to purchase a mobile phone."