By Daily Mail Reporter

PUBLISHED: 23:51 EST, 2 September 2013 | UPDATED: 02:21 EST, 3 September 2013

Discounts on Apple products at this time of the year aren't unusual, but Walmart's latest deals are better than in previous years.

The retail giant has announced that it has slashed the price of the 16 gigabyte iPhone 5 to $98, down from its previous offer of $129.

The offer means it is selling it can less than half the usual $200 price tag of the iPhone 5. To get the discount, customers will however need to sign a new two-year contract with AT&T, Verizon or Sprint.

Wal-Mart has announced that it is slashing the prices of existing versions of the iPhone and iPad

Walmart has announced that it is slashing the prices of existing versions of the iPhone and iPad

Walmart also has fresh offers on 10-inch iPads with $50 off its previous price. The latest iPad with Retina Display now costs $449 and the price of the iPad 2 is $349.

However the iPad mini did not get a discount and costs $330.

Apple typically announces new products during the second week of September and is widely expected to unveil new versions of the iPhone and iPad on Sept. 10

Walmart isn't the only retailers slash prices to clear out inventory ahead of the anticipated new product launches.

Slashed: The 16 gigabyte iPhone 5 will now cost just $98, while Retina Display iPads now costs $449 and the iPad 2 is $349

Walmart's latest deals on Apple products are better than in previous years

Walmart's latest deals on Apple products are better than in previous years

RadioShack is currently offering a $50 discount on all iPhones, including the iPhone 4S and iPhone 4, and customers don't need to sign a new contract to get the price-cut.

T-Mobile is offering the iPhone 5 for $149 with a new two-year payment plan.

Best Buy is offering $100 off the iPhone 5, but customers need to trade in their old iPhone to get the deal.

Walmart's deal undercuts all of them. The retailer has also cut the price of the iPhone 4S to $39, down from $89. Typically the iPhone 4S sells for $100 with a new contract.

Could Apple CEO Tim Cook be taking to the stage next week to announce new versions of the iPhone and iPad?

Could Apple CEO Tim Cook be taking to the stage next week to announce new versions of the iPhone and iPad?

The comments below have not been moderated.

Spencer.....That's Apple for you. A bunch of RIP-OFF OVER-PRICED artists. "The retail giant has announced that it has slashed the price of the 16 gigabyte iPhone 5 to $98, down from its previous offer of $129. Are you sure you have got your facts and prices right? Less than 100 for a 16g iphone 5 that still sells for over 400 in the UK, if so we are getting horrendously ripped off more than normal." - Spencer , Surrey, 03/9/2013 12:54

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I'll stick with my Android.

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Why the obsession to buy the first release of new technology? It never works as advertised, you have to stand in long lines to get it, and the majority of the time it doesn't really add anything substantial to the previous versions. People are weird.

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Read the article, you have to sign up to a new 2year contract.

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The retail giant has announced that it has slashed the price of the 16 gigabyte iPhone 5 to $98, down from its previous offer of $129. Are you sure you have got your facts and prices right? Less than 100 for a 16g iphone 5 that still sells for over 400 in the UK, if so we are getting horrendously ripped off more than normal.

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