Best Buy is selling Apple’s 8GB iPhone 4 for US$49.99 with a new two-year contract. This appears to be a permanent price drop, according to “AppleInsider” (

The new price is half that of the regular $99 price for the iPhone 4 with a new service contract. Reseller Best Buy is offering the $49.99 upgrade price on both the GSM iPhone 4 model, compatible with AT&T, as well as the CDMA variants, available for both Verizon and Sprint.