Walmart’s contract-free, unlimited data iPhone 5 plan is cheap as hell

Walmart yesterday announced that it would become the latest company to start offering a prepaid cell phone service for Apple’s iPhone 4 & 5.

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And it’s actually a pretty good deal, too — possibly even the best offered by anyone in the U.S., actually.

Walmart’s wireless service partner Straight Talk is offering customers two separate plans: a $45 version featuring unlimited talk, text, and data for $45 per month, or a $60 version which enables international calling. Neither plan requires you to sign a lengthy two-year contract, either.

The company said people can save about $950 a year on the straight talk plan when compared to similar unlimited plans offered by major carriers. I’m wondering if that includes the cost of a subsidized phone, as Walmart’s plans do require you to pay full price for both the iPhone 5 ($649 for the 16GB model) and the iPhone 4 ($449 for the 8GB model).

Walmart is rolling out the new service plans Jan. 11 in over 2,000 retail stores across the country.

Photo via Devindra Hardawar/VentureBeat