Here’s Best Buy’s Big iPhone Price Cut
Best Buy (NYSE:BBY) has slashed the price of iPhone 4 by half, offering the fourth-generation Apple (NASDAQ:AAPL) smartphone for $49.99 at its stores. That price is good for a black or white version of the 8 GB device along with a two-year contract with AT&T (NYSE:T), Verizon (NYSE:VZ), or Sprint (NYSE:S).
While the deal seems to be an in-store promotion, the Best Buy website shows that none of the models is available for shipping, pointing to the fact that stock may be limited.
Target (NYSE:TGT) and RadioShack (NYSE:RSH) had also recently offered big rebates on all three available generations of the iPhone, signs that retailers could possibly be looking to clear out inventory.
There have been recent reports that Apple’s sixth-generation iPhone will be launched in October.
Investing Insights: Walmart Makes More Money on Lower Prices.