The retailer lowers prices on the Apple iPhone 5s and 5c models beginning Friday, June 27, 2014. With a two-year phone service contract, a 16-gigabyte iPhone 5S will cost $99, coming down from $149. The 16-gigabyte iPhone 5c will be $29, down from $49. The offer is available in Wal-Mart’s brick and mortar stores only. In an effort to clear inventory, retailers often lower prices to clear space to make room for new merchandise.