iPhone prices have been dropping like flies this month, with Best Buy the latest retailer to join in with its own deal on the iPhone 4.

Starting this week, Best Buy is offering its stock of 8GB iPhone 4 handsets for $50.

The deal is good on both black and white models of the iPhone 4 bought along with a two-year contract through either AT&T, Verizon Wireless, or Sprint.

Target and Radio Shack started similar sales last week, offering the same discounted price on the iPhone 4 with additional deals for the iPhone 4S as well.

Like last week's deals, the $50 iPhone 4 is only available at brick and mortar Best Buy stores, which are becoming increasingly hard to find as the retailer closes locations.

Dealing in June

Best Buy is offering the discounted iPhone 4 through the end of June, ending the same day as other third-party retailer deals.

The sale's timing makes speculation very tempting. Rumors have already pointed to June for the much anticipated iPhone 5 launch, making each retailer that jumps on the discount bandwagon look like an attempt to clear out old stock in preparation.

Best Buy's sale is somewhat disappointing in that regard, since the retailer isn't budging on the price of the iPhone 4S yet.

Of course, each Apple iteration is accompanied by its own price cuts on last year's model, so a June iPhone 5 wouldn't give Best Buy much choice for long.