Why is This Retailer Offering iPhones for a STEAL?

The urgency with which sellers are trying to get rid of their old iPhone stock seems to be growing as we keep heading closer to September 12, the rumored launch date of the next generation of the device. Wal-Mart (NYSE:WMT) added to the clamor on Thursday, dropping $40 from its already discounted price of the latest Apple (NASDAQ:AAPL) smartphone. Walmart stores are now selling the 16 GB iPhone 4S for just $148, down from the retailer’s earlier marked-down price of $188.

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The discount will be in place as long as supplies last, but comes along with a two-year service contract with AT&T (NYSE:T), Sprint (NYSE:S), or Verizon (NYSE:VZ).

The sixth-generation iPhone is said to sport a taller, four-inch display and be thinner than current versions of the device, with in-touch panels removing one layer from the screen. The smartphone is expected to be capable of connecting to the faster 4G LTE wireless data networks and run on a faster processor. Apple has not publicly announced its launch plans for the device.

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