Now you can own a refurbished iPhone 5 for $99. Apparently, AT&T has begun selling refurbished versions of the iPhone 5 and they are hitting the shelves for as much as $100 off the regular price.

The Texas-based carrier pegs refurbished iPhone 5 models at $99 for the base 16 GB model, $199 for the 32 GB model and $299 for the 64GB version of the smartphone, the Los Angeles Times has reported.

Available in black and white versions, the devices are offered to existing customers who are eligible for an upgrade or new customers who sign-up for a two-year contract. The units come earlier and cheaper than anticipated.

Earlier, it was widely speculated that refurbished versions are likely to be available by January 2013, with $50 off the normal price.

However, it is not still officially announced if this is a Black Friday special or something that the mobile carrier will be offering for the long run.

The refurbished phones are available online-only, according to MacRumors.

Refurbished Apple devices are covered by a 14-day return policy though AT&T is planning to charge a $35 restocking fee.

Even refurbished iPhone 4S is being sold by AT&T with following price tags:

·         iPhone 4S 16 GB for $0.99

·         iPhone 4S 32 GB for $99.99

Though Apple has a refurbished section on its website, it only sells Mac, iPod and iPad through the website, PCMag has reported.

The iPhone 5 features a 4-inch retina display, an A6 chip, an 8 MP camera, and Apple's latest operating system, iOS 6.