Wal-Mart is also offering the device for a slight discount compared to Apple and other retailers. Customers can buy the device for $189.97 with a two-year service agreement. The iPhone 4S has a similar price advantage, being sold at $89.97 with a two-year contract. The iPhone 4, on the other hand, sells at a slight disadvantage, at $0.97 with a two- year contract, as opposed to free.
Wal-Mart pre-orders will be available for pick-up in-store on Sept. 21, the same day the iPhone 5 retailers including Apple stores, AT&T, Verizon, Sprint, and more.
Among other retailers with in-store pre-ordering, Best Buy began offering in-store iPhone 5 pre-orders on Friday morning, as well.
Wal-Mart stock was down $0.49 to $74.65 (-0.65 percent) as of mid-morning trading, on Friday. Best Buy stock was up $0.25 to $18.57 (1.36 percent) as of the same time.