Walmart will be undercutting the competition with regards to the cost of the new iPhone 5S and 5C. The handsets, scheduled to arrive a week from today, will retail for $189 and $79, respectively, for 16GB variants.

This of course represents a $20 discount off the iPhone 5C and a $10 savings on the budget-minded plastic variant. Neither discount is substantial but they are noteworthy regardless as it is extremely rare to find any sort of price break on Apple products. It's usually retail partners (often Walmart) that offer these kinds of discounts.

In related news, Walmart also launched a smartphone trade-in program for those in the US. The retailer will accept over 100 different smartphones at more than 3,600 retail locations. Examples of trade-in values include $300 for a working, non-damaged iPhone 5, $175 for a Galaxy S III and $52 for a Galaxy S II.

Apple unveiled two new iPhones during a media event earlier this week and while the flagship phone does offer some unique features like an integrated fingerprint reader and a first-of-its-kind 64-bit mobile processor, most critics expected more innovation from Cupertino. As a result, share value in Apple tanked following the announcement from around just shy of $500 per share to $468 and change as of writing.

The new iPhones are available for pre-order right now and will arrive in customers' hands on September 20.