Sprint drops the iPhone 4S price by $50 ahead of new iPhone announcementSprint is the first Carrier to start slashing prices of the current iPhone 4S after it reduced the price of the 16GB entry level model by $50 over the weekend. The iPhone 4S previously cost $199 with a two year plan with Sprint so this is a significant reduction.

The move to reduce the price shouldn’t come as any real surprise; we have already heard that Apple will hold a press event on September 12th where it is expected to announce the next iPhone, a revamped iPod touch and even the rumored iPad Mini. The new iPhone, according to our information and based upon recent parts leaks should have a slightly taller 4-inch 16:9 screen and have access to the LTE network.

Price reductions by Carriers are simply a way to create a buzz around existing stock in the aim of selling it before a new model replaces it. Last year we saw some similar activity on the lead up to the iPhone 4S announcement in October. We would expect to see similar reductions from AT&T and Verizon in the U.S. in the coming weeks and no doubt around the world too.

If you want the latest iPhone, now would not be a great time to buy one; with the expected product refresh just around the corner. Instead, hold on to your money for just a little while longer. Having said that, if you are more than happy with the capabilities of the current iPhone 4S and just want to pick up a bit of a bargain, now could be a great time to do just that.

Source: Sprint