T-Mobile is giving bargain hunters a new option today, the new Concord smartphone built by ZTE. The Concord won't blow anyone away with its specs, but the $99.99 price tag and lack of a required contract will probably woo some buyers. Featuring a 3.5-inch display and a 2-megapixel camera, the Concord unfortunately runs the rather stale Android 2.3 Gingerbread instead of the slightly more fresh Android 4.0 Ice Cream Sandwich or even fresher Android 4.1 Jelly Bean.

But we're thinking that those who might be interested in the Concord likely won't care about what version of Android it is running. The Concord can be paired with a number of T-Mobile's no-contract plans, including those exclusively offered through Walmart. T-Mobile says that the phone will be available at Target stores on August 26th, but anxious buyers may be able to find it at Walmart locations today — and save a penny on it to boot.

Though prepaid smartphones are very common in Europe, they are still a bit of a rarity here in the US — especially on the four major carriers. Chances are we will see that continue to change in the future, as more and more customers look for ways to move up to smartphones without being forced to sign lengthy contracts.