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Target, Best Buy latest iPhone price cutters

The retailers are now selling Apple's latest handsets at significantly discounted rates after Sprint dropped its prices last week.

The iPhone Apple

Apple's iPhone is now cheaper at a host of stores.

Over the weekend, Best Buy cut the price of Apple's iPhone 4 to $50 with a two-year contract, down from its original $100 price tag. Target has taken it one step further and cut the price of the iPhone 4S to $149.99 with a two-year contract, according to its mobile store. However, Target's weekly flyer, sent out yesterday, still lists the iPhone 4S at $179.99.

CNET will contact the Target sales department when it opens to determine its current price on the iPhone 4S.

Regardless, it's clear that consumers can now get a deal on an iPhone. Exactly why these deals are being offered now, however, is unknown. Some have speculated that it could indicate the retailers' desire to cut their supply of current iPhones to make room for Apple's next handset, which could hit store shelves as early as next month.

This latest move, however, might simply be a reaction to a deal Sprint offered to its customers last week. The carrier cut the price of the iPhone 4S from $199 to $149 with a two-year agreement. Soon after, reports surfaced, saying that Apple would match the reduced price in its brick-and-mortar stores. The policy, according to those reports, is being kept quiet at the moment.

It's not immediately clear how long the new pricing will last.

(Via All Things Digital)