Walmart is cutting the price of the iPhone 5 to $98 on a two-year contract, according to a Tweet from CNBC reporter Dominic Chu.
Previously, Walmart was selling the phone for $129, so it's not exactly a crazy huge price cut.
Apple is expected to announce a new iPhone on September 10. Historically, when Apple rolls out a new iPhone, then cuts the price of the previous year's model to $100, and the model from two years prior to $0.
Walmart is just getting a jump on that trend by cutting the price of the iPhone. Last year it did something similar, cutting the price of the iPhone 4S weeks before Apple announced the iPhone 5.
This is probably a good thing for Apple. We believe it still gets the full price of the phone, and Walmart's price cut should boost sales in a down-quarter for the iPhone.
Before this discount, there was no point in buying an iPhone 5. It was better to wait until Apple announced the next iPhone, and cut the price of the 5.
Now, if you don't care about the latest or greatest, you can get a good phone at a good price.
