It didn’t take long for the price of the new Apple Inc. (NASDAQ: AAPL) iPhone SE to drop from $400 to $300. Wal-Mart Stores Inc. (NYSE: WMT) will sell the new phones for that lower price from now until the end of June. In fact, every iPhone model will be available at Wal-Mart stores for $100 off the regular price.
Wal-Mart also will sell all Samsung phones, including the S7, at a discount of $150 for the same period. And again the offer is good only in the company’s stores, not online, and not every store will have all models from both companies.
According to a report at CNN Money, the offer is good with AT&T Inc. (NYSE: T), Verizon Communications Inc. (NYSE: VZ) and Sprint Corp. (NYSE: S). T-Mobile US Inc. (NYSE: TMUS) is not included in the deal. Customers will have to pay the full price for the phone and the discount will show up on their wireless phone bills.
Wal-Mart is not selling the iPhone SE online at all currently. A pre-paid iPhone 6 with 16 gigabyte (GB) of memory sells for $549 online and a prepaid iPhone 6S Plus with 16 GB of memory sells for $749 online.
24/7 Wall St.The new Samsung Galaxy S7 is also available only in stores. The Galaxy S6 Edge with 32 GB of memory is available online for $699, a discount of $50. Samsung’s list price for the S7 Edge is $780, and the S7’s list price is $670. With the discount, the S7’s price drops to $520 and the S7 Edge will go for $630.
Probably only Apple and Samsung are going to make any profit on this deal. And customers in the market for the latest and greatest smartphones.
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