Price cut for Apple iPhone 5 is on Target

On Friday, we told you about the special deal that Best Buy has for Saturday only on the Apple iPhone 5. Trade in a working Apple iPhone 4 or Apple iPhone 4S and receive $150 toward the purchase of the latest version of Apple's iconic smartphone. That would normally cut the price of the iPhone 5 to $50. But last week, the big box retailer had already cut the price of the Apple iPhone 5 by $50. That means that if you trade in an Apple iPhone 4 or iPhone 4S today, you will get the Apple iPhone 5 for free. You must have an upgrade available from AT&T, Sprint or Verizon, or open a new account with one of those three mobile operators. You will also need to sign a two year contract with the carrier you choose.

Another promotion for the Apple iPhone 5 can be found at Target. The discount retailer is taking $50 off the price of the Verizon, AT&T and Sprint version of the handset starting on Sunday and running through June 9th. That is the day before WWDC kicks off. But wait-there's more. Through July 9th, trade in a working cellphone and take another $50 off the Apple iPhone 5 or Apple iPhone 4S. Again, a two year pact must be signed.

Why is there such a strong desire to get rid of Apple iPhone 5 inventory? If we didn't know any better, we would think that a new version of the handset is on the way.

source: AllThingsD