You might want to consider dropping by Walmart — the discount department store has lowered the price of Apple's most colorful smartphone to just $45 with a two-year contract. Walmart was already selling the iPhone 5C for $79 — $20 below Apple's MSRP — and has now cut the price by another $35. Why the price drop? We're pretty sure it's related to Best Buy's current promotion of the iPhone 5C for $50 (thanks to a $50 Best Buy gift card promotion).

Starting today, Walmart — which was already selling the phone for $79 — will slash its price to $45 through the holiday season, while RadioShack plans to give customers $50 gift cards to apply towards the iPhone 5C phone from Saturday through Nov. 2. Best Buy’s deal only lasts through Oct. 7. All promotions apply only if customers sign a two-year wireless contract.

First Best Buy rolled out a promotion on Thursday to offer the Apple iPhone 5C for $50, and now RadioShack and Walmart have announced similar price cuts on the new device.