Tracfone iPhones are refurbs in new boxes. . . as are the ones being sold at Target. Apple had amassed a lot of iPhone 5, 5S, and 6 models for sale in India, but the Indian government refused to allow sales of refurbished phones. Apple instead worked out an agreement to manufacture iPhones in India to meet their requirements. Now Apple was stuck with a lot of new looking refurbished iPhones. They sold them to the monthly phone service type companies.
Ah...., that explains how we got them so cheap! After one year, they still work great and we're happy we bought them. I checked, and not all Target stores have them now, just a few stores. They do have iPhone SE's for $199, which is a step up from the 5s.