For those who are able to show patience when it comes to smartphones spending, it's time to get your wallets out. Walmart, along with other retailers, have announced permanent price drops on the newest iPhone models, the 5S and 5C.

Typically, the new models of iPhones are released sometime in September or October. As the expectations run high and speculations increase in numbers, many analysts believe that the market is preparing for the arrival of the highly anticipated phone.

In an action that signals that the iPhone 6 is indeed arriving soon, Walmart has cut the price of the latest market-available model of the iPhone, the iPhone 5S and 5C, that were released in September 2013.

According to CNET, a Walmart spokesperson announced Friday, "the iPhone 5C 16GB will cost $29, down from $49, and the iPhone 5S 16GB will cost $99, down from $149. The new prices are available with a two-year contract on AT&T, Verizon, or Sprint. The updated prices are for in-store purchases only and start on Friday at 9 a.m. ‘local time'."

There are also available offers for larger capacity phones, the 32G and 64G models, which will have their own corresponding rates.

The site notes that usually, as the release of a new device approaches, major retailers like Walmart, Target and Best Buy lower the prices of existing models. For example, last month (May), Best Buy offered consumers a trade-in promo that offered the same two models, the 5S and 5C at $100 and $50, respectively. The promos offered discounted rates and were tied in with a two-year contract, like Walmart.

BGR.com notes that, "these are all prices that require a new two-year deal with a carrier, it means you'll have to choose between AT&T, Sprint or Verizon, no matter where you shop for a new iPhone."

Consumers who want to take advantage of the price slash, below is a list of the following places to get some cheap iPhones:

Walmart - As previously mentioned, Walmart has dropped the rates as of Friday on both iPhone models.

RadionShack, Yahoo! reports that people "can actually get an iPhone 5s for $0 with the trade-in of an older iPhone. For anyone who wants to buy outright, the store's price for a 16 GB iPhone 5s on Sprint, Verizon, or AT&T, like Walmart's, is just $99."

Lastly on the list is Best Buy. They've got their own price drop that includes the 5S having been knocked down to a $99 price tag.

Got any information on where else there's a sale? Let others know by leaving the details in the comment box below!