Friday, September 14, 2012

Wal-Mart Stores, Inc. (NYSE:WMT) to sell Apple (NASDAQ:AAPL)’s iPhones For The First Time Ever

Apple Inc.(NASDAQ:AAPL)’s new iPhones will be available for pre-order with Wal-Mart Stores, Inc. (NYSE:WMT), the world's largest retailer, while discounts will also be available on it.

Customers can order the phone from the WalMart stores in the United States from Saturday morning at 8 a.m., according to a spokeswoman for the company.

Sarah Spencer of WalMart told Bloomberg in an interview that the iPhone 5 will be sold by the retailer at $189.97 for a two-year contract. Compare that with the retail price of $199 that Apple has announced for the phone.

Apple will also start taking orders from Friday onwards.

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This is the first time that WalMart has been roped in to sell the iPhones. This is in keeping with the aggressive strategy adopted by Apple to sell the new phone.

The older phones by Apple will also be sold at a discount by WalMart. For instance, the price of the iPhone 4S was cut to $89.97 from $148 on a two-year contract. The price of the older iPhone 4 has also been reduced to 97 cents compared to the previous price of $48.88.

Apple is selling the iPhone 4 free.

Analysts have predicted that the new iPhone will sell about 10 million units by the end of September, outstripping the record set by the 4S last year.

Wal-Mart rose 1.4 percent to $75.14 at the close in New York. The shares have gained 26 percent this year. Shares in Apple were trading up nearly 2 percent at 695.8 in early trades in New York.

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