By James O'Toole @jtotooleMarch 5, 2014: 3:48 PM ET
NEW YORK (CNNMoney)
Attention Wal-Mart shoppers: Smartphone prices are coming down.
Wal-Mart announced price cuts Wednesday on the Samsung Galaxy S4, as well as for Apple's 16-gigabyte iPhone 5s and 5c, for customers signing two-year contracts with AT&T(T) and Verizon(VZ).
A Galaxy S4 with a two-year contract is now $49, down from $99. The 16-gigabyte 5s is dropping from $145 to $119, while the 5c is now $29, down from $45. In addition, customers who purchase any Samsung phone with a two-year contract between March 9 and March 22 will receive a free $50 Wal-Mart gift card.
The move will likely fuel speculation that Apple(AAPL) is planning a new iPhone release for this spring, rather than its usual fall launch. Retailers often slash prices to clear out inventory ahead of a new product launch.
Samsung unveiled the new Galaxy S5, successor to the S4, last week. The phone will hit stores in April.
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Best Buy(BBY) is also offering sales on smartphones with two-year contracts. It's selling the S4 for $50, the 5s for $150 and the 5c for $50.
The sales may simply indicate that the smartphone market is approaching saturation, which makes it harder for new products to replicate the success of previous offerings.
As of January, 90% of American adults had cell phones, and 58% had smartphones, according to the Pew Research Center.
The adoption of smartphones is expected to taper off in late 2015, according to Asymco industry analyst Horace Dediu.