Wal-Mart's newest promotion can save you $100 on a new smartphone

Want to purchase a new smartphone? You should probably head to Wal-Mart.

Thanks to a new promotion, iPhone (including models iPhone SE, iPhone 6, iPhone 6 Plus, iPhone 6s) and Samsung Galaxy (models 6 and 7) are striking a deal with Wal-Mart in which customers can buy customers can buy the phones for $100 less.

What's genius about this new deal is that it only applies to in-store purchases.

This will hopefully increase sales for electronics in retail locations, instead of costumers ordering away online.

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The deal also has another interesting caveat: It isn't an immediate discount.

Instead, the $100 is credited to the customer's monthly phone bill.

AT&T, Verizon and Sprint are all participating members. Unfortunately, iPhone or Galaxy users who use T-Mobile are not eligible.

The promotion is valid through the end of June.

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