Boston, MA 06/27/2014 (wallstreetpr) – Wal-Mart Stores, Inc. (NYSE:WMT) starts offering Apple Inc (NASDAQ:AAPL) phones at reduced prices today. The company announced that it would reduce the cost of iPhone 5C and iPhone 5S in a move that that seems to betray the rumored iPhone 6.
The retailer said iPhone 5C will cost $29, down from $49. Similarly, the cost of iPhone 5S is being adjusted to $99, from $149. The new price tags start today Friday and will most likely be permanent.
The new prices are being made available with two-year contracts on carriers such as AT&T Inc (NYSE:T), Verizon Communications Inc (NYSE:VZ) and Sprint Corporation (NYSE:S).
The company announced that the updated prices are only applicable to in-stores purchases.
iPhone 6 nearing?
The latest move by Wal-Mart Stores, Inc. (NYSE:WMT) to chop the cost of iPhone 5C and 5S in its stores seems to carry more meaning that apparent. Apple Inc typically lowers the cost of its products when it is about to offer a newer version of the same products.
For example, before iPhone 5C and 5S launched, Apple Inc offered iPhone 5 at heavy discounts for weeks on stores such Wal-Mart, Target Corporation (NYSE:TGT) and Best Buy Co Inc (NYSE:BBY). The same script seems to be playing out because retailers such as Best Buy ran attractive costs and trade-in deals for iPhone 5C and 5S for the better part of May. The deal allowed buyers to catch the devices at lower prices or trade in their old iPhones for the latest versions.
There have been widespread rumors that Apple Inc could launch and enhanced iPhone 6 later this year around August or September.
Price chopped on iPod
In addition to iPhone 5C and 5S, Wal-Mart Stores, Inc. (NYSE:WMT) also announced a reduction on the cost of iPod Touch, which is a fifth generation featuring 16GB. The device is being offered for $195, down from $209.
The coming few weeks may have a clearer answer as to why Wal-Mart Stores, Inc. (NYSE:WMT) and other retailers are offering discounted Apple Inc smartphones.