Wal-Mart Stores, Inc (NYSE:WMT) confirmed that it is selling the 16GB colorful iPhone 5C at a cheaper price of $79 with a two year carrier contract, 20% discount from the $99 retail price set by Apple Inc (NASDAQ:AAPL).
The retail giant is also offering a $10 discount for the flagship iPhone 5S integrated with the fingerprint sensor technology or TouchID. Consumers will only pay $189 for the 16GB device with a two-year contract instead of paying $199.
A spokesperson for Wal-Mart said the company will process the pre-orders for the iPhone 5C and iPhone 5S on a first come, first serve basis and it depends on the availability of the products from the manufacturer and carrier launch dates. The iPhone 5C and iPhone 5S are expected to be available in the market on September 20.
The retail giant recently announced the launching of its smartphone trade-in program across 3,600 Wal-Mart and Sam’s Club stores across the United States on September 21. According to the company, it is accepting more than 100 models of smartphones for its trade-in program, and consumers will be able to get an instant credit of $50 to $300 depending on the model and condition of their mobile phone.
Meanwhile, analysts and investors were disappointed with Apple particularly with the pricing of the iPhone 5C, which was highly anticipated to be cheaper. The stock price of tech giant plummeted after revealing the iPhone 5S and iPhone 5C.
Many speculated that the C in the iPhone 5C stands for “cheap,” but they were wrong as it stands for color. The iPhone 5C is available in different bright colors such as blue, green, pink, yellow, and white.
Venture capitalist Fred Wilson vocally expressed his disappointment against Apple’s pricing on the iPhone 5C, and called the tech giant “clueless.” In a blog post, Wilson wrote, “The C in 5C does not mean ‘cheap’ as I had hoped. It means clueless, as in clueless about how the vast majority of new smartphone users are paying for their phones.”
Wilson pointed out that the cost of the iPhone 5C without a carrier contract is more expensive in other countries such as China. He Chinese consumers will be paying more than $700 for unsubsidized iPhone 5C compared with $549 without contract in the United States. He also emphasized that consumers in most countries buy a prepaid sim card stick it into their unsubsidized phones.
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