Update: TELUS, Bell and Virgin looking to clear iPhone 5 inventory, sheds $50 off the contract price

TELUS discontinued the iPhone 5 from their lineup just before the iPhone 5s launched. Now, with a month of new iPhone sales, TELUS seems to be looking to clear some lingering inventory as they’ve just priced dropped all versions by $50.

The iPhone 5 16GB is now $79 on a 2-year, iPhone 5 32GB is now $129 and $179 for the 64GB. Competing carriers will most likely follow this price in a few days. This could be a good time to buy for those not interested in paying a pretty penny for the latest model.

Update: As expected, Bell and Virgin have followed by cutting the cost of the 2-year contract price for the iPhone 5. If you’re interested, the 16GB version is now $79.95; 32GB and 64GB versions are both $129.95.

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Source: TELUS, Bell, Virgin