In this Jan. 5, 2011, file photo, Tyrell Coley, 21, holds his iPhone displaying his Twitter account in the Queens borough of New York. A new poll finds African American millennials are just as engaged in getting news online as their white counterparts, further debunking a long-held belief that people of color are at risk of being left behind technologically. The AP-NORC study found no evidence to suggest that African Americans and Hispanics lag behind in terms of technology use with nearly all millennials across racial and ethnic groups using a smartphone, and half using a tablet. (AP Photo/Frank Franklin II)
In this Jan. 5, 2011, file photo, Tyrell Coley, 21, holds his iPhone displaying his Twitter account in the Queens borough of New York. A new poll finds African American millennials are just as engaged in getting news online as their white counterparts, further debunking a long-held belief that people of color are at risk of being left behind technologically. The AP-NORC study found no evidence to suggest that African Americans and Hispanics lag behind in terms of technology use with nearly all millennials across racial and ethnic groups using a smartphone, and half using a tablet. (AP Photo/Frank Franklin II)
In this Jan. 5, 2011, file photo, Tyrell Coley, 21, holds his iPhone displaying his Twitter account in the Queens borough of New York. (AP Photo/Frank Franklin II)

(CNN) – The new iPhone is just around the corner, and it’s time to get serious about trading in your old smartphone.

Apple Stores, carriers and smartphone recycling companies are practically falling over themselves trying to get you to trade-in your old phone, offering huge deals. The market for older smartphones — particularly used iPhones — is exploding, and there’s a likelihood that your old phone is worth hundreds of dollars.

But deciding where to recycle your phone can be confusing. Each company is offering a slightly different promotion. Some are giving credits towards a new phone, others are giving discounts on service and then some are simply giving you cash.

Here’s a quick guide to what you can expect to get for your old iPhone:

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