iPhone 6 release date may be closer as the new iPhone 5C deals and discounts emerged.

Various retailers slash the price for the newly released iPhone 5C. Target, Best Buy, Wal-Mart and Radio Shack offer $50 discount on low cost iPhone.

Target recently joined the pack of retailers offering the discount. As a matter of fact, if you are a Target REDCard holder, you will get an additional 5% off the price of the device.

Best Buy pioneered the discount rates last week by offering the iPhone 5C for $49. Customers will receive an in-store $50 gift card which can be used in buying the Apple smartphone.

Radio Shack also offers the same pricing strategy with the promo running until November 2.

Not trailing behind is Wal-Mart which dropped the price to $45 from its original price of $79.

According to reports, there is an overwhelming production of the device and it seemed that Apple overestimated the demand for the colourful handsets. There is still a higher demand for iPhone 5S and the supply is slowly diminishing.

Moreover, it could be Apple's preparation in the release of the rumoured iPhone 6. The company could be maximizing its profit from the low cost iPhone.

iPhone 6 is rumoured to be released in the first quarter of next year as some reports asserted that Apple feels pressure in releasing more smartphones due to its rivals like Samsung which releases different handsets in a year.

Based on the recent rumours, iPhone 6 will pack a larger screen display ranging from 4.8 to 6 inches being the phablet of Apple. This is supported by rumours that Apple is already testing the screen displays as well as analysts' claims.

Aside from bigger screens, iPhone 6 is speculated to pack 64-bit processor, M7 GPU, fingerprint sensor and the latest iOS 7 just like the iPhone 5S. The smartphone is also expected to pack NFC and larger internal storage that were again skipped in the previous models.