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Buying iPhone 5 unlocked from, questions about Fido contract and old phone

I'm a participant level 1
I'm a participant level 1

Good morning!


I have about 18 months left on my current contract.


If I buy an unlocked iPhone 5 from at full price, what are the implications for my current contract and phone?


Ideally, I'd like to put the iPhone 5 onto my existing contract, and have my current iPhone 4 unlocked to give to my wife.


What would the costs to me be for this?


Thank you!



***Edited to add labels***


I'm qualified level 1
I'm qualified level 1

Go to Fido with your iPhone 5 and tell them to activate a LTE nano-SIM on your current number and plan. This should shift your Fido number, plan, etc to your iPhone 5. Keep in mind that you still have a contract and it doesn't matter if your not using the same iPhone. The iPhone 4 can only be unlocked until you finish your contract or cancel it. Only after that occurs, you will have to wait 30 days after you break your contract or finish it to unlock the iPhone. You can then pay $50 to have a hardware unlock.

iPhone 5 - White 16 GB