The iPhone 5 is now $129 at Walmart. If you've been waiting for a great deal one a smartphone, it's safe to say that now's the time to act. The price is $62 off the original price that Apple is still offering on its website.

The iPhone 5 sale is exclusively available through Walmart stores. Unfortunately, there's no way to purchase the iPhone 5 for $129 online. In order to get the discount price on the iPhone 5, customers must sign up for a two-year contract.

The price of the discounted iPhone 5 is significantly lower than the sale price of the Galaxy Note 2 on Amazon Wireless. Although both are incredible deals, we'd recommend the iPhone 5 because the price is simply unbeatable. In addition, it has a sharper screen and is likely to be updated by Apple for longer.

Walmart is also lowering the price of the iPad with a Retina Display. Customers will pay only $400 for the new 16GB iPad, which typically sells for $500. Beginning Dec. 17, Walmart will also include a $30 iTunes gift card with every iPad that it sells.

At these prices, the supply of discounted iPads and iPhones are likely to sell out quick. We'd recommend checking or calling Walmart as soon as possible if you're legitimately interested in purchasing one of the devices.

The iPhone 5 has been given favorable reviews by most media outlets. Earlier this year, we compared the iPhone 5 and the Galaxy Note 2 to determine the best smartphone on the planet. We concluded that the Galaxy Note 2 was better for hacker types and power users while the iPhone 5 was better for social media and design buffs.

"The iPhone 5 is undoubtedly the most impressive iPhone Apple has launched to date, but it's also more than that: it separates Apple from its rivals by a wider margin than ever before. In terms of hardware quality and in terms of core software performance, the new iPhone has no peers," wrote BGR's Zach Epstein in his review of the iPhone 5.

The Verge largely agreed. "The iPhone 5 is unquestionably the best iPhone ever made, and for the mass market, it's the best smartphone, period. Between the new design, blazing fast LTE, and excellent battery life, there's little to not like here. It's a competent, confident, slick package, certainly made better by most (but not all) of the updates and changes in iOS 6," reports Joshua Topolsky of The Verge in his review of the iPhone 5.

If you're considering purchasing the iPhone 5 at Walmart for a discounted price of $129, we can't emphasize enough how much we support your decision. If you're willing to plunge into a two-year contract, now is the time to do it.