Wal-mart (WMT) Cuts iPhone 5c, 5s Prices Ahead of Next-Gen Debut (AAPL)

Wal-mart (NYSE: WMT) is cutting the price of the Apple (Nasdaq: AAPL) iPhone 5c and iPhone 5s ahead of the expected iPhone 6 launch, which should happen in early September.

The LA Times noted that Wal-mart, the world's largest retailer, will sell the iPhone 5c for 97 cents and 5s for $79 on two-year contract. Those prices are down from $99 and $199, respectively, for each device. Lower prices are expected to take effect today.

Apple is expected to hold an iPhone event on September 9th, which will debut the new iPhone 6. Market watchers expect multiple versions of the device, including one with a larger display which is expected to satiate a recent surge in demand in Asia for smartphones with bigger screens. Sales of the next-generation devices should happen the following Friday following debut, or shortly thereafter.

As with Apple's last iPhone unveiling, sales in China and other Asian countries should see no real lag time like there has been in the past.

Shares of Apple are indicated lower Thursday after hitting a record high of $101.09 on Wednesday.

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