With the Samsung Galaxy S4 unveiled and intensifying rumors of an iPhone 5S, RadioShack is slashing prices for the Galaxy S3, iPhone 5 and iPhone 4S.

Any new tech product sees its price drop after a couple of months on the market to clear stock and make room for the next model. As the world is buzzing about the next-generation Samsung Galaxy and iPhone flagships, existing models are now available for lower prices.

RadioShack already started the price-cutting frenzy by slashing the price tag of three hot smartphones: the Samsung Galaxy S3, the iPhone 5, and the older iPhone 4S. The consumer electronics store is now offering deals on the three handsets, but deals are only available with Sprint contracts. A RadioShack spokesperson told CNET that this promotion will last until April 4.

Of the three smartphones on offer, the best deal seems to be for the Samsung Galaxy S3. RadioShack is offering the handset for $150 less on a two-year contract. While typically the Samsung Galaxy S3 sports a $199.99 price tag at RadioShack; now the retailer is offering it for just $49.99 with a new Sprint account and a two-year contract.

For the iPhone 5 and iPhone 4S, meanwhile, customers can save $50 with a new Sprint plan. Keep in mind, however, that the iPhone promotion is available in-store only, which means the lower price is not applicable for online orders.

RadioShack's promotion is likely to be the first of several different deals retailers and carriers worldwide will offer for all three handsets. The smartphones are still hot and very popular, but retailers have to make room for the next-generation.

Meanwhile, those looking to save even more money can check out RadioShack's "Trade & Save" program, which allows consumers to trade in their old devices in exchange for cash toward their new purchase.

While some consumers are poised to get the absolute latest smartphones as soon as they come out, those who want a high-end smartphone for a discounted price will likely find RadioShack's new offers quite attractive. After all, a brand new Samsung Galaxy S3 for $50 sounds like a pretty sweet deal.