Walmart has now permanently slashed prices for iPhone 5 and iPhone 4S. It isn’t unusual to see Apple’s smartphones being offered for low prices, but that’s usually during a promotion of some sort, very rarely are prices dropped permanently. Such permanent drops are often seen when a new iPhone pushes its predecessor down one slot. It was rumored a couple of days ago that Walmart was going to cut prices, what was thought to be a promotion has actually turned out to be a permanent thing.

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Walmart will now be offering 16GB iPhone 5 for $129, the smartphone will come with a two year contract, customers can choose from AT&T, Verizon and Sprint. The 16GB iPhone 4S will be available from the same mobile networks for just $39 with a two year contract. AT&T recently started a promotion in which it is offering iPhone 5 for $99 on contract. It is believed that retailers and carriers are initiating these kinds of promotions because Apple wants inventory to clear out before the next generation iPhone hits stores later this year. It is a logical assumption, but for those who have been waiting to get a good deal on a new iPhone 5, this is a good offering.

Filed in . Read more about iPhone 4S, iPhone 5 and Next Generation Iphone.