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Target discounting iPhone 5c to $49.99... or less

Target has joined the parade of retailers who are discounting Apple's colorful iPhone 5c. Earlier this week, TUAW reported that Walmart and RadioShack were selling the 5c for just US$45 with a two-year contract; now Target has announced that they will sell the 16 GB version of the phones for $49.99 or less.

That "or less" has a caveat attached to it, of course. An extra 5 percent discount is available for those who happen to have a Target REDcard, bringing the price tag down to $47.50. The prices are for a phone equipped with a new two-year contract with the carrier of your choice, and appear to be available only in stores and not online.