Are you the type of person who doesn’t like to be tied down by a long term cell phone contract? Are you also the type of person who is interested in taking advantage of everything that the Apple Inc. (NASDAQ:AAPL) iPhone has to offer? If you answered yes to both of these questions, you have may want to head to your local Walmart in the near future.
Yesterday, the company announced that on January 11 it will begin to sell the iPhone 4 and 5 with a no contract plan by Straight Talk Wireless. As if this is not exciting enough, the price will be competitive at $45/month for unlimited talk, text, and data.
Apple Inc. (NASDAQ:AAPL) Press Info
Of course, there is always a “catch.” Despite the low monthly price, consumers will be required to purchase the smartphone itself at the retail price. Currently, the only selection sold at Walmart is the 16GB iPhone 5 for $649 or the 8GB iPhone 4 for $449.
Here is what Seong Ohm, senior vice president of entertainment for Walmart, had to say as quoted by AppleInsider:
"We believe customers shouldn't have to choose between saving money and having the latest technology. Now customers can have the coveted iPhone with unlimited talk, text and data without a contract for $70 a month thanks to our exclusive Straight Talk plan and industry first financing offer."
But I though the price was only $45/month? For $70/month, customers are able to use a Walmart Credit Card to purchase the actual device. They will pay $25/month, along with the $45/month, until the phone is paid off. At that point, the total monthly charge will revert to $45/month.
But wait, there is more.