While the details are unclear as to whether this is a permanent price drop or just something temporary, Best Buy has recently lowered the price of the iPhone 4. The new price is $49.99, still on a two-year agreement. The retailer is offering the iPhone 4 for both Verizon Wireless and Sprint. Furthermore, this model has 8GB of internal storage and is available in either white and/or black. All said and done, it is sort of hard to make a two-year commitment to a handset that will probably be two models old in a few months time, but sometimes it is more about price than newness. And that being the case, the iPhone 4 (at $49.99) is a fairly solid offering.