The tech giant from Cupertino, Apple is expected to launch a new smartphone next month. Expectation are that Apple might launch the iPhone 5S or the iPhone 6, but some circles believe that Apple might be about to launch a cheaper iPhone – code named the iPhone 5C. Either way, retailers have decided that whatever comes next it will decrease the demand for the iPhone 5. The retailers have responded by slashing the price of the smartphone. Best Buy has already cut the price of the iPhone 5 by 100 $. If Apple releases two new phones next month, like many expect, the price for the iPhone 5 could fall further still.

Apple will most likely reveal its new iOS 7 and at least one new smartphone in the first half of September and release them by the second half. While some believe that Apple will release two new iPhones at the same time, it is more likely that Apple will stagger the release of its new devices. According to a reliable source in KGI Securities, Apple will in fact release two new iPhones by the end of the year.

The iPhone 5 is getting cheaper and expect its price to continue to drop, especially if Apple decides to release the completely new iPhone 6 rather than the updated iPhone 5S.