The move appears to come in response to rival Best Buy (BBY), which on Thursday announced that it was taking the price of the phone down to $50.
In a statement, Walmart spokesperson Sarah McKinney said that "providing our customers low prices on the newest technology is what we do." She did, however, acknowledge Best Buy's own price cut, and said that "As a price leader, we are always looking for ways to surprise our customers with low prices and disrupt the competition."
%VIRTUAL-article-sponsoredlinks%Besides beating Best Buy's price by $5, Walmart has another advantage: Its pricing is good at least through the end of the holiday season, while Best Buy's pricing is only good through Oct. 7. Walmart also has an active trade-in program that lets you apply the value of your old phone to your purchase.
Walmart isn't the only retailer responding to Best Buy's big price cut: RadioShack (RSH) also announced Friday that it will discount the phone to $50, a price that will be good through Nov. 2. Still, with so many retailers suddenly discounting the 5c, we wouldn't be surprised if it became the standard pricing for the phone going forward.
Regardless, one thing is clear: For now, the Apple Store is not the best place to buy this iPhone.
Save Money With These 7 Smartphone Apps
Walmart, Best Buy Already Slashing iPhone 5c Prices
Stop texting and start saving! Yes, your smartphone can save you money – from coupons to comparing prices to making a shopping list, these seven smartphone apps are the key to making sure you don’t go over your budget. And they’re all free!
This app, available on the iPhone and Android, allows users to scan the bar code of any item in the store and the app will find the retailer or online site that sells that item for the lowest price. This way, if you’re in a store, you can show proof to the manager that another store sells the same item for less, and ask the manager to match that lower price.
Available on the iPhone, users can find coupons from tens of thousands of retailers, like Macy’s, Kohl’s, Gap, JC Penney, and Bloomingdales. When shopping online from your phone, you can drag the promotional code from the app and drop it right into the retailer’s website when you’re checking out. You can also redeem the coupons from the app in the store – no need to print anything out!
It happens to consumers: You purchase an item and the next day it goes on sale! After you make a purchase, simply take a picture of the receipt using your smartphone, the app will store it and let you know if that items goes on sale – this way you can easily head back to the store and be credited for the difference between the sale price and the amount you paid. Some stores have a window of 15-30 days to get a price adjustment. The app is available on the iPhone and Android.
Food from your local farmer’s market is generally cheaper (and healthier) than the supermarket. Using GPS, this app finds the nearest farmer’s market – it’ll even tell you what foods and produce are in season. It’s available on the iPhone and Android phones.
Gas prices are always expensive. Type in your zip code and the GasBuddy app will find the cheapest gas station in your area. Various users post the prices at each gas station throughout the country – this way, we can all save! Available on the iPhone and Android.
Do you tend to overspend when buying gifts for friends on special occasions? This app allows user to enter in a budget for the gift – it will then suggest gifts that fit within your budget. You can even enter in your friend’s age, gender and hobbies to make sure you find the perfect gift. The app browses some 150,000 products. Available on the iPhone and Android phones.
Studies show making a shopping list (and sticking to it!) will ensure you spend less at the grocery store. This app lets users create a shopping list. To add items to the shopping list, you can scan the bar code of the item, talk to the app (using its voice activation feature) or enter it manually. Once you’ve purchased the item, you can cross it off your list, conveniently on the app!