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Walmart dropping iPhone 5 price to $129 starting today

Walmart already sells the iPhone 5 at the low, low everyday price of US$189, but shoppers who are eager to pick up a bargain can visit their local Walmart starting today and buy Apple's flagship smartphone for just $129. The pricing only applies at the stores and is not available online.

According to Mashable blogger Christina Warren, the new price isn't temporary -- that's the everyday price, indefinitely. That's not the only iPhone receiving the rollback treatment from Walmart; the iPhone 4S has dropped from $89 to $39. All pricing is dependent on the purchaser signing a new two-year contract with AT&T, Verizon, or Sprint.

What's fascinating about the new pricing is that Apple usually controls the extent to which retailers can cut prices on Apple products. In the past, Walmart's prices have usually been about $10 less than what Apple charges -- the new pricing essentially brings a 30 percent discount on the iPhone 5 and a 70 percent discount on the iPhone 4S.

Meanwhile, electronics retailer Best Buy has revitalized its iPhone trade-in program from early June and will be running it for several more days. Customers who trade in an iPhone 4 or 4S in working condition can upgrade for free to an iPhone 5, less carrier fees and taxes. Some of our readers report that their local Best Buy outlets ran out of iPhone 5 stock early in the weekend.

Warren provides some insight into why Walmart might be undercutting the competition and what it may mean for future pricing from discounters in her post on Mashable. For TUAW readers, is the new price enough to make you forsake the Apple Store or a mobile carrier's shop when buying your new phone? Leave us a comment below.

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