Samsung Galaxy S5
A new Samsung Galaxy S5 smartphone is seen on a display at the Mobile World Congress in Barcelona February 23, 2014. Samsung Electronics unveiled a new smart watch and fitness band along with the latest version of its flagship Galaxy smartphone on Monday, demonstrating how the battleground for innovation is shifting from the hand to the wrist.Picture taken on February 23. Reuters/Albert Gea

Sprint is trying to do its best to prevent existing customers from switching over to other carriers. Now, Sprint has come up with a loyalty program deal that allows customers to avail of the Samsung Galaxy S5 or the 16 GB iPhone 6 for a low price of $5 per month without making any upfront payment. Both handsets used to be available with Sprint for $20 per month on a two-year contract.

The Sprint Loyalty program lets its customers save $360 for the entire contract period on the Samsung Galaxy S5 and Apple iPhone 6 16 GB model. Moreover, it even allows users to acquire a new connection for a year free with unlimited talk time, SMS and data. To avail of this deal, customers need to clear their remaining balance for the current month.

Sprint is also offering 20 percent discount on certain smartphone accessories. Android Central and GSMArena claim Sprint has already emailed about the current accessories deals to eligible customers.

Even Best Buy, Walmart, Target and Sam's Club are offering attractive deals on the Apple iPhone 6 for the upcoming Black Friday. Best Buy is selling the 16 GB iPhone 6 for $99 with a two-year pact. Walmart is selling the 16 GB iPhone 6 through AT&T, Sprint and Verizon at a price of $179 along with a gift card worth $75. With Target, the 16 GB iPhone 6 can be availed for $180, which is accompanied with $30 gift card. Sam's Club is offering the 16 GB iPhone 6 only for $99. The 64 GB and 128 GB iPhone 6 are priced at $199 and $299, respectively, with Target and Sam's Club.

The Galaxy S5 has been the flagship handset from the South Korean tech giant for this year, while the iPhone 6 has been the flagship smartphone for Apple. The iPhone 6 is also dubbed as the largest iPhone ever as it features a larger 4.7-inch display compared to all the previous iPhone iterations. The iPhone 6 was launched alongside the iPhone 6 Plus phablet, which houses a 5.5-inch display, in September.