The $49.99 is available with a two-year contract and comes with free shipping if its purchased online.
While the deal is nice, it isn't the only one going on with the iPhone 4 or even the iPhone 4S. Both Target and RadioShack slashed the price of the two most recent iPhones by $50 earlier this month, according to CNET.
With some complaints about the 4S's battery life as well as Siri's performance, a $50 iPhone 4 is not a shabby deal.
But before you buy this low-cost iPhone, keep in mind that the sixth generation iPhone may be just around the corner. Most rumors pinpoint the next iPhone _ which could be called "the new iPhone" or the "iPhone Jumbo" based off recent developments _ arriving in October.
Then again, if you want a really good deal, just pick up this refurbished iPhone 4 at Best Buy for $29.99.