Apple's iPhone 5 is widely expected to debut this September. Sprint's recent move to slash its iPhone 4S (16GB version) price to $149.99 from the previous $199.99 fuels the speculation about an upcoming release. With only a few weeks until the September 12 iPhone 5 debut, the carrier appears to have dropped its iPhone 4S prices in anticipation of the next-gen offering.

Sprint reduced its iPhone 4S prices by $50 for all three versions of the smartphone. The two-year contract iPhone 4S smartphones now sell for $149.99, $249.99, and $ 349.99 for the 16GB, 32GB, and 64GB versions, respectively. For consumers purchasing the 16GB version of the smartphone online, Sprint will also waive the $36 fee and offer free activation. The promotion for the new pricing on Sprint's home page reads "Get the most amazing iPhone yet at our most amazing price ever."

The price drop may spell success for Sprint, which is in the midst of a turnaround, and give the carrier some much-needed reprieve from its dismal Q2 2012 figures. Last month, Sprint had reported Q2 losses of $1.37 billion on $8.84 billion revenue. With the carrier "showing good success" in retaining customers, the $50 slash is a smart marketing ploy.

Sprint's rival AT&T offers a refurbished iPhone 4S for $149, whereas a Verizon Wireless spokeswoman stated that she did not have any information on the company reducing iPhone 4S prices. In May of this year, retail stores Target and Radio Shack announced $50 discounts for the iPhone 4S.

The past bears testimony to the fact that whenever tech titan Apple is gearing up for a new iPhone launch wireless carriers invariably drop the price of current models in the weeks leading up to the debut. In 2011, prior to the iPhone 4S launch, a similar trend ensued with the then-current model - iPhone 4 - seeing price cutbacks.

The price drop move may spell success for Sprint, which is in the midst of a turnaround, and give the carrier some reprieve from its dismal Q2 2012 figures. Last month, Sprint reported Q2 losses of $1.37 billion on $8.84 billion revenue.

With the carrier "showing good success" in retaining customers, the $50 slash is a smart marketing ploy. With this business move, the company should be able to generate some profits and sail through the "turnaround."