Countdown to iPhone 5: What to do With Your Old Phone?

SPRINGFIELD, Mo. -- The highly-anticipated arrival of Apple's iPhone 5 is Friday.

The demand for the latest gadget may be high, but many people are also wondering what to do with their old phones. We went to the experts to find out.

According to Phillip Toates, an assistant manager at a corporate AT&T store in Springfield, says you have a few options.

First, save your old iPhone as a backup phone if you can. Or you can add a new line to the account to use the old phone.

Also, if your phone has any value, you may want to trade it in for store credit.

"Some of these phones have a lot of value to them," says Toates. "They get a lot of money to spend on additional merchandise whether they just want accessories, their new phone, or take advantage of a new sound solution, these phones can do a lot more for them. There's a lot more stuff you can add to the phone as well."

You can't trade your old phone in for a new iPhone 5, but you can trade it in for store credit and use that amount toward your new phone, phone bills, accessories, and so forth.