Retailers slash iPhone 5 price prepping for next iPhone

apple iphone 5 4G

Likely also taking advantage of increased foot traffic in retail stores this weekend, both Best Buy and Walmart have significantly discounted the starting price of the iPhone 5 in order to move inventory out the door before the next iPhone launches later this month. Specifically, Best Buy is offering a minimum of 50 percent discount on the $199 16GB or $299 32GB model if the customer trades in an iPhone 4 or 4S that works properly and is in reasonably good condition free of water damage or screen cracks. 

That means customers will spend $99 on the 16GB model or $149 on the 32GB model if their iPhone 4 or 4S model simply passes muster. Similar to Apple’s new iPhone trade-in program, customers at Best Buy can earn even more if their smartphone is in excellent condition and comes with extras like the charging cable and original packaging.

Best Buy Mobile iPhone 5

Consumers interested in taking advantage of this offer can check out the Best Buy trade-in pricing tool on the main site. Credit for the iPhone 4 or 4S has to be applied to a new iPhone 5 purchase that’s under a two-year contract with AT&T, Sprint or Verizon.

Alternatively, Walmart has cut the under-contract price of the 16GB iPhone 5 to $98 and doesn’t even require a trade-in. Hypothetically, an iPhone 4 or 4S owner could sell their device on an auction site like eBay or to an electronics reseller in order to help cover the cost of a new iPhone 5 at Walmart. Prior to this weekend, the price of the 16GB iPhone 5 at Walmart was approximately $130.

If you want to spend even less and don’t mind older technology, Walmart’s price on the iPhone 4S under two-year contract is just $39. In addition, Android fans can pick up a discounted Samsung Galaxy S4 at Walmart this weekend for just $138 with a two-year contract at AT&T or Verizon. It’s likely that more retailers will follow suit with this new aggressive price on the iPhone 5 prior to the Apple press conference on September 10, 2013.