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iPhone Retails Falling

New York – Retail prices of the iPhone 4 and 4S are falling as Apple, carriers and dealers make way for the new iPhone 5.

In two recent price moves, Best Buy lowered the 8GB iPhone 4 for ATT and Verizon to $49 from $99, and Walmart today announced a $40 price drop on the 16GB iPhone 4S for AT&T, Sprint and Verizon, to $148. The model sells elsewhere for $199.

All prices require two-year carrier contracts.

The iPhone 5 is expected to be released in early fall.