It is becoming clearer with each passing day that retailers are getting ready for a new iPhone launch next month. Last week Sprint announced price reductions on its iPhone 4S variants, and other retailers such as Radio Shack have also cut prices on these older iPhone models.

Now Best Buy and Target are joining in the discount fever, having recently announced significant discounts on previously released iPhones.

According to All Things D, the 8 GB iPhone 4 would now be selling at $49.99 through Best Buy. This is half the device’s previous retail price of $99.99 on a two-year contract. Target’s AT&T and Verizon 16 GB iPhone 4S versions are now just $179, which makes them $30 more expensive than Sprint’s iPhone 4S.

Late last week, Apple stores got the go-signal to match any pricing discount offered by carriers and iPhone resellers like the companies mentioned above.

Since last week, Sprint has been selling the iPhone 4S with 16 GB storage for $149; the 32 GB version costs $249, while the 64 GB version now sells for $349.

The $36 activation fee has also been waived by the carrier. These discounts should bode well for the sales of older iPhone models, as the world waits patiently for the new iPhone’s revelation.

The iPhone 5 is believed to be announced at a special Apple press event on September 12. It would be then when Apple should finally provide official information on this sixth iteration of the beloved smartphone.