Don’t we just love Apple for slashing down the prices of its already-launched iPhones and iPads ahead the launch of its latest versions! For those of us looking to join the league of proud owners of Apple devices, Walmart has some good news to offer.

The popular retain chain has just announced on its Facebook page a significant drop of $40 on the stock of Apple iPhone 4S. Isn’t that great news, considering only those of us who don’t really mind even if our new Apple phone is 4S and not the much anticipated iPhone 5?

This strategy of Apple to lower down the prices of its old models seems to have worked for majority of us, who are hoping to get a chance to line up outside Walmart to grab it in the first go. The offer is currently on all stocks of iPhone 4S, the 16GB model.

Here is what, the retail store has mentioned on Facebook….

Amazing savings alert–starting on 8/23 at 9am local time, the iPhone 4S (16G) will drop to $148, down from $188! 

Select stores, AT&T, Sprint and Verizon customers, while supplies last, restrictions apply.

Got to see it to believe it? Here is the link….

As mentioned on Facebook, Walmart has made the offer valid with a new two-year contract or a qualifying upgrade.

This reduction by Walmart is just one of the many iPhone 4/4S clearance sales of sorts that we have seen earlier also, being done by retailers and carriers, with the launch of the next-generation iPhone 5, which is expected to be out on Sep. 21.

Also worth mentioning is the fact that this offer is applied just few days after Walmart offered a discount of $20 on its stock of $100 iTunes electronic gift cards.

The news has been a hit on Facebook and got as many as 13,516 likes so far. So let’s just see who will queue up outside Walmart to avail the offer to get iPhone 4S in the bag.

Are you planning to grab this advantage? But, amid speculation let’s not forget September is not far.. And we need not tell anyone why that’s important as we all know iPhone 5 is just a few weeks away….