NewEgg.com is offering contract-free Refurbished Apple iPhone 4S 16GB Smartphone for AT&T in white or Black for $499.99 (799.99 – 300 instant savings) for a limited time. Shipping adds $5.99. Contract-free means you will not be required to sign a long term commitment with AT&T to buy this phone.

The new iPhone 4S is powered by Apple’s A5 dual-core processor (same one in the iPad 2) and features an all new 8-megapixel camera which is capable of recording 1080p HD video at 30 fps with image stabilization. It’s also the first phone to intelligently switch between two antennas, so call quality is better and it doubles the maximum HSDPA data speeds to 14.4 Mbps. It’s a world phone, so you can use on GSM or CDMA. It runs the new iOS 5 with iCloud effortless, and seamless backing up and managing your data wirelessly. It also features AirPlay Mirroring, Siri voice-activated intelligent assistant that helps you get things done, and much more.