Merchant Innovation

Best Buy Selling iPhones … For $1?

While some shoppers like to get their holiday shopping done early, 2015 has proven that customers who have the stomach to wait out retailers will most likely have their patience rewarded. However, Best Buy may have just taken that to another level.

CNET reported that Best Buy has officially begun selling iPhone 6S devices for just $1, plus the cost of a two-year contract that most, if not all, users end up signing anyway. Contracts can range among a variety of characters, and the low price also applies to a selection of colors for the device. However, only 16GB models appear to be available for purchase under the discounted pricing structure.

While patient deal-watchers might be ready to jump at the chance for an iPhone at this price, a Best Buy spokeswoman told Fortune that the sale will only be live through Sunday (Dec. 20).

Why would Best Buy willingly forgo dozens of dollars on each iPhone purchase, especially in the critical days leading up to Christmas? Rumors have been circulating the sales for the 6s model leave something to be desired, and rumblings about the release of a smaller iPhone in early 2016 may be prompting Best Buy to clear out its cache of the current model, while also capitalizing on last-minute gift givers.

Whatever the reasoning, other retailers aren’t content to let Best Buy steal their thunder as the holiday shopping season winds down. Verizon announced that it would be running its own offer — a free upgrade to double the memory for anybody who buys an iPhone online or in store. While this might not bring the price of the device down to Best Buy’s $1 point, it at least shows that other retailers aren’t going to let their competitors steal shoppers, as well as the headlines, leading into the frenzy of last-minute shoppers.

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