Walmart Slashes Price of iPhone 4S to $148 With 2 Year Contract

With Apple’s iPhone 5 launch just around the corner, likely sometime in the middle of September, with retail product availability expected on September 21, there’s now some cost-cutting going on with the current 16GB iPhone 4S model. Walmart has posted on Facebook that it’s cutting $40 off the iPhone 4S with 2 year contract from today:

“Amazing savings alert–starting on 8/23 at 9am local time, the iPhone 4S (16G) will drop to $148, down from $188! Select stores, AT&T, Sprint and Verizon customers, while supplies last, restrictions apply.”

While this deal may sound good right now, note that it comes with a 2 year contract lock-in, the phone will be further reduced, likely to $99 and customers may find that they would rather pay the premium for the iPhone 5 due to compelling new features and capabilities.