A tipster at BGR just provided several documents that give additional details on the retailer’s new ‘Buy Back’ program. The new program is said to launch January 5th for smartphones, laptops, tablets and TVs; the service will be expanded to “other product categories” sometime during fiscal year 2012.

The “buy backs” availability will vary from that of computers, tablets and smartphones. TVs under 6 months old can be turned in for 50% of the original full-retail price; 6 to 12 months, 40%; 12 to 18 months, 30%; 18 to 24 months, 20%; and 10% during the third and fourth years of ownership.

So far, all “buy backs” will be issued in the form of Best Buy gift cards and the company is positioning the program to its sales staff as “protection against obsolescence.” What do you think about this? Is this new to you or have you always known Best Buy to do this sort of deal? Let us know what you think!

Source: BGR