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Good deal: third-generation iPad with Retina display for $399, iPhone 5 for $127 from Walmart retail stores (update)

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ipad 4 gen
ipad 4 gen

Walmart has just announced a few solid deals for those shopping for Apple's iOS products this holiday season. The 16GB version of the newest third-generation iPad with Retina display is available for $399, a $100 discount over most other retailers the same price as the iPad 2 is normally sold at. The 16GB iPhone 5 is also steeply discounted to $127 when you sign up for a new two-year contract, while a 16GB iPhone 4S is available for $47, down from the $89.97 Walmart usual offers it for. While these kinds of deals aren't unheard of — the iPad 2 was also discounted to $399 by a few retailers last holiday season — it's still a nice bit of savings on products that are typically hard to find below Apple's retail pricing. The deals are available as of today in Walmart's retail stores, but as of Monday you'll also be able to get a $30 iTunes gift card along with the iPad. Unfortunately, these deals are in-store only, so you'll need to brave the pre-Christmas crowds if you're interested.

Update: Walmart wrote in to let us know that they made a mistake with their original press release. The $399 iPad deal is not for the newest generation of the iPad — it's for the older, third-generation model with Apple's old 30-pin connector. It's still not a bad deal, but unfortunately you won't be able to get Apple's latest and greatest iPad from Walmart at that discount. We apologize for the confusion.

Update 2: Several readers and commenters have noted that their local Walmart stores are not currently honoring the iPad deal, despite what we heard from a Walmart representative. We've reached out to Walmart again to clarify the deal, but you might want to call your local store before heading over to try and purchase the discounted iPad. We'll update here as we find out where exactly this sale is available.