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iPhone 4S Prices Dropping as iPhone 5 Release Approaches

With the release of the next-generation iPhone quickly approaching, various retailers have begun offering the iPhone 4S at a lower price.

Target is currently selling the 16GB model of the iPhone 4S for $149.99 on contract. Best Buy has discounted the iPhone 4, making it just $50 with a new two-year agreement.

Apple normally discounts the iPhone shortly before a new model is released in order to empty out its inventory and build anticipation for the next-gen model. This year the company is lowering prices on its smartphones a bit earlier than it usually does. This could point to an earlier release of the iPhone 5.

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Apple could also be doing this to stunt the rapid growth of smartphones running Android such as the Galaxy S3, and Galaxy Note hybrid device.

The iPhone 5 is expected be released internationally on Oct. 5, just a few weeks after it is launched in the U.S., according to recent reports.

iMore's Rene Ritchie, someone with a track record of being correct with Apple predictions, stated that Apple will begin offering pre-orders for the next-generation iPhone on Sept. 12, the same day the device is expected to be announced.

She also added that it will be released by Apple on Sept. 21 alongside a new 7.85-inch iPad Mini. This new tablet will be launched by the company to compete directly with Google's Nexus 7 and the successor to the Amazon Kindle Fire.

The iMore report also pointed out that the international launch of the iPhone will take place in early October, with Oct. 5 being the most likely day. This fits in with Apple's normal strategy as the company has been known to delay international launches to ramp up sales.

The iPhone 5 is rumored to have a 4-inch display with 640 x 1136 pixel resolution and a redesigned nano-SIM card slot. It will also feature LTE connectivity and a larger battery to accommodate the network.

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