Will you buy the iPhone 5C for $27 with a two-year contract?  Probably not, but that’s okay, because there’s also the $127 5S to choose from at Wal-Mart.

iphone 5c teardown 02 Wal Mart chucking $27 iPhone 5C at any willing takers, 5S for $127

Wal-Mart is lowering the price of the iPhone 5S from an on-contract price of $199 to $127 starting this Friday.  The retail giant pulled a similar stunt last year with the iPhone 5, with the difference this year being there’s also the 5C to select from.

Cell phone bargain hunters will probably take a longer look at the 5S than the C, and for good reasons.  The 5C, though, is still worth a look if you’re serious about a dirt cheap phone, as the going price has dropped from $99 to just $27 with a two-year contract. It’s not free, but it’s close.

Current iPhone 5 owners may not see much of a benefit in upgrading to the 5S, other than the fact that they can show off the swaggy new fingerprint sensor.

Apple recently slowed down (and perhaps even cut) production of the 5C as demand for the plastic iPhone was seemingly low.  Considering how badly the device is doing in the market place, we’re wondering why retailers aren’t chucking the 5C at consumers for free with iTunes gift cards, too, while they’re at it.

The Wal-Mart iPhone deal ends on December 24.

Image: iFixit