Various U.S. retailers dropped the prices of iPhone 5C for $50 less, making the new device more affordable to consumers.

Best Buy, Wal-Mart and RadioShack all offer $50 less on the iPhone 5C from its original price of $99 with two-year contract or $549 without contract.

Best Buy slashed $50 off the iPhone 5C by offering a gift card to consumers planning to buy iPhone 5C. This deal runs until October 7.

Similar to Best Buy's offer, RadioShack customers who will the iPhone 5C will receive a $50 gift card that can be used in buying the device starting today. This promo will run until November 2.

According to a spokesman from Wal-Mart, the retailer will also cut the price of iPhone 5C from $79 to $45 all throughout the holiday season.

It remains unknown why Apple slashed the prices of the cheaper iPhone though it is speculated that iPhone 5C sales is not doing very well unlike the iPhone 5S.

On Sept 10, Apple finally introduced its next generation of iPhones - the iPhone 5S and the iPhone 5C. The iPhone 5S is the full-fledged iPhone, and like the previous iPhone 5, it features 4-inch Retina display, aluminium housing and 8 MP rear camera.

The new iPhone 5S added the faster 64-bit A7 processor and M7 chip GPU as well as a fingerprint reader embedded on the home button. The iPhone 5S took the $199 slot of the iPhone 5 with a two-year contract.

Meanwhile, the mid-range iPhone 5C boasts some of the features of the iPhone 5 all housed in a plastic casing. The device is available in different colours like blue, green, yellow, white and red variants. The iPhone 5C costs $99 with 24-month lock-in period.

Both devices come with the latest iOS 7. The iPhone 5S and iPhone 5C went on sale last September 20 on Apple Stores worldwide.