updated 01:31 pm EST, Fri December 14, 2012
iPhone 5 price drops to $127
[Update: the sale iPad is a third-gen model, not fourth-gen] Starting today, Walmart is launching a sale on several Apple products in the US. The retailer is dropping the price of a 16GB, third-generation Wi-Fi iPad down to $399 -- the same price as the iPad 2 -- and beginning Monday, also bundling in a $30 iTunes card. The third-generation iPad was discontinued when the latest model was introduced in October, just eight months after the third-generation's debut.
The 16GB iPhone 5 has been reduced from $190 to $127, and the 16GB iPhone 4S has been cut from $90 to $47. The prices apply to all carriers, but are only an option for in-store buyers, and require locking into a two-year contract. An iPhone 5 typically starts at $199.
Walmart's discounts may be meant to trump iPhone sales at Best Buy and RadioShack. The iPad sale is unique though, substantially below what most retailers are offering. The third-generation iPad features the same Retina display as the latest model, which is mostly similar in features apart from a faster processor, more RAM and faster graphics.
An earlier version of this story said that the iPad model on sale was a fourth-generation one, based on information from Walmart that was later corrected. MacNN regrets the error.