Less than a month after its launch, it would seem the iPhone 5c‘s price is in free fall, with third-party retailers slashing the smartphone’s cost as quickly as possible. CNET reports that Target will offer a second price drop on the iPhone 5c, cutting it down to just $50 starting this Sunday. Target REDcard customers will get an extra five percent off the device as well.
Target currently offers the iPhone 5c for $79, a price it set on Sept. 19, just one day before the device hit stores. Since then, however, Walmart dropped its starting price a second time, offering the mid-range smartphone for just $45. Meanwhile, RadioShack is offering a similar deal, while Best Buy recently rolled out a one-weekend-only price drop to $49.99 in an effort to clear some of its stock.
A recent report claims Apple will cut its iPhone 5c production in half, from 300,000 to just 150,000 units per day, suggesting that the plastic smartphone hasn’t sold as well as the company had hoped. While limited iPhone 5s supplies quickly flew off the shelf, 5c sales have apparently failed to make a dent in the company’s inventory. It’s unclear if Apple made too many units, or if consumers simply aren’t going for the cheaper model. Either way, it could spell trouble for Cupertino down the line if it can’t turn a profit on the colorful handset.