Good news for all our American readers getting an iPhone this weekend. Walmart is set to dramatically lower the carrier-subsidized prices of iPhone 5 and iPhone 4S, starting today.

iphone 5 Walmart slash prices on existing iPhone models, iPhone 5S incoming?

Mashable reports that Walmart will be lowering the price of iPhone 5 and 4S to $129 (down from $189) and $39 (down from $89) respectively. In order to get your hands on these devices, you must sign up a two-year contract with AT&T, Sprint or Verizon.

The reason for such an amazing discount is still unknown. Walmart offers discounts on various products throughout the year but it appears as if the company is trying to sell out its existing inventory before Apple announces iPhone 5S, which is expected to launch by the end of this year.

Rumors of the upcoming iPhone 5S are steadily gaining traction as we get closer to the purported September release. A few days back, leaked photos revealed that iPhone 5S will be equipped with a bigger battery and a dual-LED flash.

The discounted price will be available in Walmart stores starting from 22 June, so if you want to get your hands on iPhone 5 or iPhone 4S, this might be the perfect time. Buyers would have to go down to the nearest physical Walmart store though, as the above-mentioned prices will not be available online.

Source: Mashable