Wal-Mart cuts prices in budding iPhone 5 price war

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(Photo: MGN Online)

(Photo: MGN Online)

DENVER — If you want to upgrade your old iPhone to the newer iPhone 5, now may be the time to do it.

On Friday, Wal-Mart became the latest major retailer to slash prices on the device, dropping the price on the 16 GB iPhone 5s and iPhone 5c models to $99 and $29 respectively. For Wal-Mart, that’s a drop of $50 for the 5s and $20 for the 5c. Those prices require a two-year activation plan with AT&T, Sprint or Verizon.

Earlier in the week, Costco also dropped its iPhone prices on the 5s model, when the wholesale retailer began selling the devices online starting at $77.99

Both stores are offering substantial discounts when compared to the $199 price that mobile provides were charging for the 5s during the same week.

However, if you’re looking for the latest and greatest phone, you might consider the iPhone 5 outdated come this fall. That’s when most suspect the new iPhone 6 will be released.