Wal-Mart is joining Santa Claus in spreading holiday cheer with a price cut on some of the newest iPone models, selling for as low as $129.
Taking advantage of this season's spending spree, the multi-million-dollar retail company has slashed $50 in Apple Inc. (AAPL)'s iPhone 6 during the holidays, bringing its price to $129 from the regular price of $179, the Huffington Post reported.
According to the report, the 50-dollar discount applies for the 16-gigabyte unit for both iPhone 6 as well as iPhone 6 Plus -- dropping the latter's price from $279 to $229.
The Wal-Mart sale also covers 64-gigabyte versions of the iPhone 6 and 6 Plus which are now priced $229 and $329, respectively.
Other Apple mobile phones on sale include the iPhone 5S that is now sold for $49 down from its original $79 price.
According to a report from Forbes, customers who wish to avail of the discounted prices, which ends by February 2015, would need to sign a two-year contract with AT&T Inc., Verizon Wireless or Sprint Corp.
The iPhone price drop was initiated to celebrate the date 12/13/14 which is deemed the "last number-sequential date this century," the Forbes report cited Wal-Mart.
Wal-Mart reportedly hopes that cutting down the price of one of the world's most popular mobile brand would attract more customers to visit their stores all over the U.S.
According to Bloomberg, Wal-Mart is also selling the Galaxy S5 from Samsung Electronics Co. at $50 off, originally priced $139, and is now sold for only $79.
The company revealed that the move was also made to take advantage of the National Retail Federation (NRF)'s report that only 10 percent of the American population has completed their shopping for the Yuletide season.
This, according to Bloomberg, is also to regain the overall drop in retail sales estimated at 11 percent during the disappointing Black Friday long weekend and "to reverse chronic declining store traffic trends."
"Gift buying no longer happens on just one day or in just one way. We're seeing more customers shopping across the season while visiting both our store and online aisles," a statement from Wal-Mart's Senior Vice President of toys and seasonal merchandising Scott McCall reads, as quoted by Bloomberg.
The Huffington Post revealed that Apple's iPhone 6 is on its way to becoming the company's best-selling mobile device, with over 10 million new phones sold over the first three days of the sale.
Apple analyst Neil Cybart predicted sales to increase by 33.3 percent, selling about 68 million phones sold during the last quarter of this year.
