Stores Drop Prices for Cheapest IPhone Model

The iPhone 5c price drop war is on. After Best Buy announced on Thursday that it was planning to offer Apple's iPhone 5c for $50 with a two-year contract—$50 less than Apple's $99 price—Walmart has announced that it will offer the phone for $45.

"This is what we do—low prices is what we do," Sarah Spencer McKinney, director of corporate communications for Walmart, told ABC News. "As a price leader, we are always looking for ways to surprise our customers with low prices and disrupt the competition."

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