Walmart, the world's largest retailer, will be selling the iPhone 5C for $79 and the iPhone 5S for $189, the company announced Thursday. The prices represent a $20 discount off of the regular retail price for the 5C, and a $10 discount off of Apple's normal price for the 5S. Walmart is undercutting Apple and other carriers such as AT&T and Verizon with their lower iPhone prices. While undercutting the competition isn't anything new for Walmart, offering a reduced price on the new iPhone this quickly is slightly surprising.
Customers can preorder the 5C starting today at their local Walmart store. Preorders will be filled on a first-come, first-served basis and must be picked up by September 25. The 5C goes on sale Friday, September 20. Apple didn't make the iPhone 5S available for preorders, so customers will have to wait until September 20 for the chance to snag one. However, if you can wait until a day after the launch to purchase your new iPhone 5S, Walmart will also accept a trade-in of your old smartphone and apply the credit towards your iPhone 5S purchase.
Apple launched the two versions of iPhone, the 5S, which is an upgrade to its existing iPhone 5, and the 5C, a low-cost phone, earlier this week. The 5S comes in three colors - dark gray, silver and gold - and is targeted at premium consumers. The phone features a faster processor, a new fingerprint scanner (Touch ID) and a smarter 8-megapixel camera, which can capture 10 frames a second in "burst" mode. The phone is also equipped with a chip that tracks movement as customers carry it around. The 5C is available in five colors - blue, green, pink, yellow and white - and is equipped with most of iPhone 5's technology. These devices come with a polycarbonate cover instead of aluminum.
Along with Walmart's slight discount on the new iPhones, and the trading program, the big-box store will be offering a steep discount on old models. The iPhone 5 will cost $79, and the 4S will be $0.97. Finally, Walmart is practically begging you to take the iPhone 4 off its hands, which will cost $0.10 and will come with a $100 Walmart gift card.
The discounted iPhones are expected to boost Walmart's sales in the coming quarters. In its recently concluded second-quarter fiscal 2013 earnings, Walmart missed both the earnings and revenue expectations for the second time in a row. Amid the challenging retail environment, WMT also lowered its fiscal 2014 earnings and revenue guidance.
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