iPhone 5 Price Drops to $125 at Walmart

The iPhone 5 price dropped to $125 at Walmart.

The retailer slashed the price on the 16GB version of the Apple smartphone this past Friday and also discounted the 16GB iPhone 4S to $47 from its original price of $87.97.

These low rates can only be obtained when the buyer signs a new two-year agreement with a participating carrier. It can also be accessed if the buyer is eligible for a full upgrade.

This is a great buy for those looking to purchase the iPhone 5 as a gift for someone.

Walmart is also running a Christmas special on the 16GB Wi-Fi iPad as it is now selling for just $399. This is the 3rd generation iPad model which features a Retina display with an A6 processing chip. The retailer also will give customers a $30 iTunes gift card with their purchase of a new 3rd generation iPad.

A spokeperson for the company recently spoke with MacRumors regarding its relationship with Apple and how it is able to offer these kinds of prices.

"Walmart works closely with Apple to secure some of the strongest allocations of their products. That being said, inventory is a first come first serve basis so we recommend customers come early to secure their Apple product. We will not offer rain checks but customer should know we will be refreshing out inventory on an ongoing basis," said Spencer.

The iPhone 5 was released by Apple earlier this year and normally sells for $199 for the 16GB version.

The device is also available on AT&T refurbished for just $99. The new handset is Apple's fastest selling iPhone ever and features a 4-inch display with LTE connectivity.