Apple's iPhone 5C for $79 preorder at Target, Walmart

Target matches Walmart's $20 discount for preorders on Apple's upcoming 16GB, multi-colored, lower-cost smartphone.

Target's Web site offering iPhone 5C preorders for $79. Screenshot by Dara Kerr/CNET

Hours before Apple's new iPhone models go on sale in US retail stores , Target has quietly matched Walmart's lower preorder price for the iPhone 5C -- Apple's first low-cost smartphone, which has a plastic body and comes in five bright colors.

Apple and partner retailers will be selling the 5C starting at $99 with a two-year contract, but both Target and Walmart are now offering the 16GB version of the smartphone for $79 on preorder -- a total discount of $20. Target said it will also add an extra 5 percent off for customers who use a Target REDcard.

While Target will also be selling Apple's costlier iPhone 5S, it is currently not offering a deal on this device. Besides the discount on the 5C, the big box retailer is additionally offering a trade-in program for older versions of the iPhone for customers to get store credit. Customers can trade in their iPhone 5 for $200, iPhone 4S for $125, and iPhone 4 for $75.

Apple announced the launch of its two new iPhone models earlier this month. Both the less-expensive 5C and the higher-end 5S are intended to replace last year's iPhone 5, which has been discontinued. The 5C is the only device up for preorder , with Apple planning to begin sales of the 5S model at 12:01 a.m. PT on Friday, Sept. 20, as well as through its carrier partners.

Via 9to5Mac.

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