How long does Apple replace faulty iPhone device for?

I have the power button problem where it only works if you press on the left, and not if you press on the right. I got my iPhone 5 the first week it was released. If I take it to the Apple store, will they replace it or has it been took long since I've bought it?

Also, my current one is already a replacement. I replaced my original one on the first day I got it because it had the blemishes-right-out-of-the-box problem.

 

Excellent news, thanks for the fast reply.

Is this the case even if I have gotten a replacement once already in the past?

 

Great! Thank you all for the clarification! will take a look at the warranty info as well.