Looks like Apple is cleaning house, making room for the new iPhone 5 that's rumored to arrive by the end of September, as Best Buy is now offering the 8 GB iPhone 4 for a meager $49.99 USD with a new two-year contract. That's half off the regular price of the previous $99.99 tag.
As Apple Insider points out, the electronics retailer does not indicate the price reduction as a limited-time sale -- it appears to be the new, permanent listing. The reduction seemingly arrives immediately after Apple announced that it sold only 26 million iPhones in the June quarter, representing a 28-percent growth over the same period one year ago.
On Tuesday Apple executives indicated during their quarterly earnings conference call that the "disappointing" quarter results could be due to rumors that new hardware is on the way. The price drop may not only be attributed to the possible upcoming iPhone 5, but to push more iPhone 4 units off store shelves and generate a better September quarter.
Best Buy is currently listing the white and black 8 GB iPhone 4 model for AT&T (GSM) for $49.99, and the CDMA version -- also in white and black -- for Verizon Wireless and Sprint at the same price. The retailer is also offering refurbished versions for the same price -- these may be pulled altogether. As previously stated, customers can take advantage of the new low price by signing a new two-year contract with their respective carriers.