Target and Radio Shack are dropping their prices on the iPhone 4. A lot of retailers typically do this to clear out inventory in anticipation for a new iPhone. We've seen it happen every year thus far.

If you're in the market for a new iPhone and don't care about waiting for the iPhone 5, you can get an iPhone 4 at Target for $149 (16 GB) and $249 (32 GB). Radio Shack also has a promotion this week cutting the prices to $169 and $269. If you trade in an existing iPhone, you can get an additional $100 off at Radio Shack.

As always, these prices will require you to sign a new 2-year agreement. I'd personally hold out for the iPhone 5 but if you aren't willing to shell out over $200 for a new phone, this may be the deal for you.

TUAW