Walmart Brings the iPhone 5 to the Prepaid Crowd

Hot on the heels of news that a “low-budget” iPhone is on the way comes astounding news that the iPhone 5 is now available to everyone, regardless of whether they sign a contract. Indeed, Walmart has made the newest iPhone model available to its customers through its Straight Talk banner.

But that’s not all.┬áThe iPhone 4 will also be available for prepaid customers, and under the program, the requirement for a contract for an iPhone is a thing of the past.

Of course, the catch is that these customers will have to pay full price for the prized mobile devices, a potential roadblock for many. But Walmart wouldn’t be Walmart without offering a solution to that small problem: those who are unable to pay the reasonable prices that the chain has set, financing will be available. Through that program, a customer would pay $25 per month for the purchase of the phone.

The monthly fee will be $45, and the cost of the phones will be either $449 for the iPhone 4 (8GB), or $649 for the iPhone 5 (16 GB), reasonable and affordable costs indeed.

In a press release from Walmart, Seong Ohm, senior vice president of Entertainment, was cited as saying, “We believe customers shouldn’t have to choose between saving money and having the latest technology…customers can have the coveted iPhone with unlimited talk, text and data without a contract…”

Walmart’s Straight Talk service is the result of a partnership between the largest private employer in the United States and TracFone, perhaps the most widely known prepaid provider in the U.S.

With the unveiling of this program, the iPhone truly does become available– at least in theory– to most anyone, potentially taking away the cult classic vibe that many seem to enjoy about the iPhone, but extending the product’s reach to what can certainly be described as a new and interesting market.

[via: Cnet]