Walmart has announced that it has slashed the price of the 16 gigabyte iPhone 5 to $98, down from its previous offer of $129.
The offer means it is selling it can less than half the usual $200 price tag of the iPhone 5. To get the discount, customers will however need to sign a new two-year contract with AT&T, Verizon or Sprint.
Walmart also has fresh offers on 10-inch iPads with $50 off its previous price. The latest iPad with Retina Display now costs $449 and the price of the iPad 2 is $349.
However, the iPad mini did not get a discount and costs $330.
Apple typically announces new products during the second week of September and is widely expected to unveil new versions of the iPhone and iPad on Sept. 10
Walmart isn’t the only retailers slash prices to clear out inventory ahead of the anticipated new product launches.
RadioShack is currently offering a $50 discount on all iPhones, including the iPhone 4S and iPhone 4, and customers don’t need to sign a new contract to get the price-cut.
T-Mobile is offering the iPhone 5 for $149 with a new two-year payment plan.
Best Buy is offering $100 off the iPhone 5, but customers need to trade in their old iPhone to get the deal.
Walmart’s deal undercuts all of them. The retailer has also cut the price of the iPhone 4S to $39, down from $89. Typically the iPhone 4S sells for $100 with a new contract.