By Robert Schoon ( | First Posted: Sep 12, 2013 05:56 PM EDT

(Photo : Reuters)

When Apple unveiled the iPhone 5C (and its price) many on Wall Street and in online tech blogs balked that the rumored low-cost iPhone was nothing more than a myth. $100 is cheaper, but not cheap. Well, now Wal-Mart has stepped in to lower the price just a little more.

According to the Los Angeles Times, the world's largest retailer said it will carry the iPhone 5C and the iPhone 5S. Both handsets will be the lowest-priced, 16-gigabyte versions.

For the iPhone 5C, Wal-Mart will mark the handset down by 20 percent, meaning you can get it on a two-year contract with AT&T, Verizon, or Sprint for $79. The iPhone 5S will be marked down $10, meaning the 16 Gig version will come priced at $189. However, keep in mind that Wal-Mart just announced their own smartphone trade-in program - coincidentally (or not), just hours before Apple unveiled the new iPhones. The trade in program takes effect on Sept. 21.

That means you can possibly pick up the iPhone 5C or iPhone 5S for free, depending on what you're trading in. Other iPhones going on sale at Wal-Mart include the iPhone 5, which Wal-Mart is putting on a fire sale for $79 with a two-year agreement until stores run out. It is also selling the discontinued iPhone 4 for 10 cents on a two-year agreement, and Wal-Mart will throw in a $100 Wal-Mart gift card for more incentive.

Wal-Mart is not getting the new iPhone devices at a discount, meaning that the retailer is willing to take a smaller profit from each device in exchange for getting Apple fans into their stores.

The iPhone 5C and iPhone 5S have a release date of Sept. 20, so that's when the phones will hit Wal-Mart's shelves. However, if you wait one day, you can bring in your old smartphone and take advantage of the trade-in offer.

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