Walmart just revealed on Facebook and Twitter that it is cutting $40 off the iPhone 4S on Thursday.

According to the retailer’s Facebook page:

  • Amazing savings alert–starting on 8/23 at 9am local time, the iPhone 4S (16G) will drop to $148, down from $188!
  • Select stores, AT&T, Sprint and Verizon customers, while supplies last, restrictions apply.

With Apple’s next-generation iPhone launching next month, many carriers and retailers are rapidly slashing prices on iPhone 4 and iPhone 4S models. Walmart’s latest deal is available to folks with a new two-year contract, as noted in the ad above, or qualifying upgrade.

Let us know in the comments below if Apple’s 16GB smartphone goes on sale at your local Walmart.

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