Walmart Reduces Price of the iPhone, iPad

The holiday 2012 shopping bargains did not end with Black Friday on the coveted new iPhone.

Walmart, in a move the week before Christmas, announced it will begin selling the iPhone 5 for $127, which is $72 less than Apple's price when buying with a two-year contract with AT&T, Sprint or Verizon. The iPhone 4S can be had for a mere $47.

Also, Walmart has put the third-generation iPad on sale for $399. And if you buy one after Monday Walmart will throw in a $30 iTunes gift card.

The move comes just three months after Apple rolled out the latest version of its landmark smartphone.

This could mean that iPhone sales are lagging. The Los Angeles Times reported that a UBS analyst announced he was lowering his iPhone sales estimates for 2013, saying he expects Apple to sell 5 million fewer phones than his previous estimate..

Walmart told MacRumors that the sale is first come, first served - depending on inventory, and rain checks will not be issued.

The closest Walmarts to Cupertino are: 

• San Jose, 1600 Saratoga Ave.; (408) 796-3823
• San Jose, 5095 Almaden Expy.; (408) 600-3072
• Mountain View, 600 Showers Dr; (650) 917-9756
• Milpitas, 301 Ranch Dr; (408) 934-0304