Walmart is taking pre-orders for the iPhone 5 at its US stores today. And it’s offering an US$10 discount over Apple and the wireless carriers’ prices.

Walmart is offering the 16GB version of the iPhone 5 with a $189.97 price tag, as part of a two-year contract. Those choosing to buy the new handset from the store are asked to pre-order in person, notes “Digital Trends” In return for a $25 deposit, you’ll be given a reservation card, needed for when you collect the phone a week later.

Walmart is also cutting g the price of the old iPhone 4S from $148 to $89.97, with a two-year contract. The iPhone 4 is now being offered by the retail giant for $0.97 cents with a two-year contract.