iPhone 5 Drops to $98 at Walmart Ahead of iPhone 5S Release

Walmart is selling the iPhone 5 for just $98 on a two-year contract, effectively chopping $100 off the price of the flagship iPhone a month ahead of the rumored iPhone 5S release date.

This is the latest iPhone 5 deal to arrive from Walmart, which chopped the price of the iPhone 5 down to $128 in June. Apple normally exercises dramatic price controls over the iPhone , but with the iPhone 5 retailers and carriers are offering many more discounts and deals.

Walmart also offers the iPhone 4S for $39, $60 less than carriers and most other retailers charge for the mid-range iPhone on a two-year contract.

Read: Should I Buy the iPhone 5 or Wait for the iPhone 5S?

These iPhone 5 deals are valid for AT&T, Sprint and Verizon at a Walmart Wireless Center. These special in-store cell phone stores are available at most Walmart Super Centers. There is no deal on the T-Mobile iPhone 5 which Walmart does not sell on a payment plan or contract.

This iPhone 5 deal doesn’t appear to work on the iPhone 5 32GB or 64GB models. Best Buy is running a trade in promotion to get the iPhone 5 32GB for $149 with a iPhone trade in.

Walmart drops the price of the iPhone 5 to $98 ahead of the iPhone 5S release.

Walmart drops the price of the iPhone 5 to $98 ahead of the iPhone 5S release.

While $100 off the iPhone 5 is a very tempting deal, there is a reason Walmart is dropping the price so much. While the iPhone 5S should look a lot like the iPhone 5 and come with the same 4-inch Retina Display, rumors do include a lot of features that shoppers should wait to see before buying an iPhone.

Read: Why You Shouldn’t Buy the iPhone 5 Right Now

The iPhone 5S announcement is all but confirmed for September 10th where we should see a new iPhone that may include a gold color option, more storage and a faster processor. There are also rumors of a better camera, finger print sensor and special iOS 7 features that don’t come to the iPhone 5 or iPhone 4S.

At this point we are likely three weeks away from the iPhone 5S release date, which means it is only a small amount of time left to wait for the latest iPhone to arrive.

Read: iPhone 5S Video: Release Date & Rumor Roundup

When the iPhone 5S release date hits, the iPhone 5 price should drop to $99 on all carriers, like the iPhone 4S before it. It’s a good idea to wait for the iPhone 5S to see if it offers any must have features before locking into a two-year contract.

That said, shoppers who are just waiting for the iPhone 5S release to arrive and knock down the price of the iPhone 5 can go ahead and beat the rush and get an iPhone that will see an upgrade to iOS 7 in the next several weeks.

Users who are upgrading from the iPhone 4S can trade in their old iPhone for up to $270 in cash or $300 in Amazon store credit to pay for the cost of the iPhone 5 with money to spare for new accessories.