Walmart is getting a bit ahead of the curve, but something tells me they’re not that ahead. In lieu of the upcoming iPhone 5 announcement and release, the retail giant has discounted iPhone 4S 16GB at $148!

JUST IN! #iPhone 4s (16G) now $148 – down from $188!! Get the best prices on the latest smartphones at #Walmart, Your Wireless Price Leader!

— Walmart Newsroom (@WalmartNewsroom) August 23, 2012

Via 9to5Mac: “Amazing savings alert–starting on 8/23 at 9am local time, the iPhone 4S (16G) will drop to $148, down from $188 Select stores, AT&T, Sprint and Verizon customers, while supplies last, restrictions apply.”

Apple’s keynote is rumored to take place second week of September with actual release date pegged on September 21. Thoughts?