“Starting today, Walmart has dropped prices on both the iPhone 5 and iPhone 4S, with the 16 GB iPhone 5 now on sale for just $127 and the iPhone 4S coming in at $47,” Eric Slivka reports for MacRumors.

“In addition, Walmart is now selling the latest fourth-generation 16 GB Wi-Fi iPad for just $399, a $100 discount from standard pricing,” Slivka reports.

“And beginning on Monday, Walmart will also include a $30 iTunes gift card bonus with iPad purchases,” Slivka reports.

Read more in the full article here.

MacDailyNews Take: iPhone and iPad, the perfect loss leaders*. This also bodes poorly for Android and all other iPhone knockoffs, wannabes and roadkill.

*Retailers often use very popular products as “loss leaders” in order to draw customers into a store where they are likely to buy other goods.