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iPhone 5 price tumbles to $98 at Walmart

With a new iPhone 5S expected to drop next month, older model iPhone prices are suddenly feeling a stronger gravitational pull.

The iPhone 5 is officially past its retail prime. Screenshot by Eric Mack/CNET

iPhone 5 prices are tumbling as anticipation builds that a new iPhone 5S and perhaps a less expensive iPhone 5C will be introduced on September 10.

Retail monolith Walmart has allowed the cost of a new iPhone 5 (with a two-year contract) to slide all the way to $98 for a 16GB model in white or black on AT&T, Verizon, or Sprint, effective Friday. The megastore already had some of the lowest prices on a new iPhone 5, which were previously set at $129.

For Android fans, Walmart has rolled back the price of a new Galaxy S4 (with a two-year contract on Verzion or AT&T) to $138. That's $10 less than the previous price for a new GS4 on Verizon, and a $30 price drop for the AT&T version.

But perhaps the loudest screaming deals come to those who don't need the latest and greatest. If you'd be perfectly happy with an iPhone 4S, it'll only cost you $39 to get started, and if you find Siri annoying and could just do without her, then all you need is 97 cents for a new iPhone 4 on contract. The Samsung Galaxy S3 on Verizon is now also just 97 cents (the AT&T version has been available at that price since last month at Walmart).

Walmart also announced more modest rollbacks of $50 a piece for new iPads.

The smartphone offers are among the best around, and come as Apple rolls out its new iPhone trade-in program. Walmart also has a device trade-in program that allows for instant store credit. So, in theory, you could trade in a working iPhone 4S and use that credit to buy two new iPhone 5 units. If, of course, you're up for carrying two new contracts.