According to reports flashing online, Walmart has drastically slashed the prices of the iPhone 5C and iPhone 5S handsets. Starting today, Walmart Stores will be selling both the handsets at a discounted price tag, as low as $29 and $99 respectively.

Walmart will now be selling the 16 GB iPhone 5S will for $99 with a two-year contract and the 16 GB iPhone 5C for $29 with a two-year contract. Earlier prices have slashed down from $149 for the iPhone 5S and $49 for the iPhone 5C.

We have already seen Walmart running deals in the past, but this time this they have come up with something which is not similar to what they have been doing. This time the discount they are offering is permanent.

Walmart’s price slash is unsurprisingly affecting some other retailers as well. Earlier this week, Costco also started selling the iPhone 5S at $77.99 which is even less than what Walmart’s price.

“This is typically a slow time of the year for iPhone sales, with rumors of the next iPhone emerging. Many customers may choose to wait for a future iPhone 6. Walmart’s decision is a tactical one to clear inventory or drive traffic,” says Brian Colello, equity analyst with Morningstar.

The iPhone 6 is expected to hit the market by September this year. This can possibility slow down the overall market sale of iPhone, as it needs to hold down for two more months. Reportedly, Apple will be announcing two models one with 4.7 inches of screen and another with 5.5 inches screen.

Surprisingly, it has not been cleared by Walmart whether the 32GB or 64GB versions of iPhone are also marked down to their prices. It would be interesting to see how Walmart is going to deal with other variants of iPhone in this category.

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