Josh Miller/CNET

A day after Apple unveiled its new iPhone 6 and iPhone 6 Plus, Walmart is cutting prices.

The big box retailer will begin selling the 16GB iPhone 6 for preorder on Friday, September 12, for $179. This deal is available on AT&T, Verizon and Sprint and is valid only with a two-year contract. Those people who preorder the smartphone will also receive a $15 e-gift card from Walmart when they pick up their device. The retailer will make the 16GB iPhone 6 Plus available on September 19 for $279.

These prices are a bit lower than the current going rate for the new smartphones. During its launch on Tuesday, Apple announced that the iPhone 6 will be available for $199 with a two-year agreement, while the iPhone 6 Plus starts at $299.

Walmart also said its Sam's Club locations will offer the smartphones for even a couple of bucks less. The 16GB iPhone 6 will go for $177 and the 16GB iPhone 6 Plus will cost $277.

Apple's iPhone 6 is equipped with a 4.7-inch Retina display, while the larger iPhone 6 Plus has a 5.5-inch Retina display. In addition to being slimmer and lighter, both models also include an improved camera and better graphics and battery life.

Walmart competitor Target announced Wednesday that it will begin offering preorders on the iPhone 6 and iPhone 6 Plus starting September 12, which is a week before the devices officially go on sale.

Target and Walmart are also accepting trade-ins on prior iPhone models. Other retailers are additionally offering trade-in deals. For example, Verizon announced Tuesday that it will give customers a free 16GB iPhone 6 when they trade in their old phone and re-up their contract for two more years.

Updated on September 11 at 9:20 am PT to clarify that Walmart is also accepting trade-ins for older iPhone models.