Best Buy cuts price of iPhone 4 to $49.99

The retailer joins Target and RadioShack in offering a $50 discount on the 2010 model of Apple's flagship phone.

Screenshot by Lance Whitney/CNET

Those of you in the market for an iPhone 4 can now pick one up at Best Buy for just $49.99.

The iPhone 4 is half off the usual retail price of $99.99 and requires a two-year contract with Verizon Wireless, AT&T, or Sprint. Potential buyers have a color choice of black or white.

The deal seems to be an in-store only promotion as the Best Buy Web site shows that none of the models is available for shipping. Stock may also be limited -- an online search of various stores around the country revealed the phone as unavailable at a fair number of them.

Best Buy is the latest retailer to shave $50 off the cost of the iPhone 4. Target and RadioShack recently kicked off sales on both the iPhone 4 and the iPhone 4S. Those deals also include the standard two-year contract with a choice of any of the three U.S. carriers.

The timing of all these iPhone 4 and 4S sales is intriguing. Are retailers simply trying to boost sales or are they looking to clear out inventory?

Recent reports have suggested that Apple's next-generation iPhone won't launch until October, the same month as the iPhone 4S debuted last year. But the iPhone 4 and 3GS both popped up in June of their respective years.

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