Apple launched the iPhone 8 and iPhone 8 Plus on September 12. On the same day, the company started to lower the prices of all its earlier smartphones. The iPhone 7 and iPhone 7 Plus were being offered at their lowest ever prices. Currently, Apple stores list the iPhone 7 as bearing a $549 price tag, while the bigger variant comes at a price of $669. However, a new deal offered by Verizon will allow customers to acquire these handsets at even lower prices.

What does the latest offer from the carrier entail?

Verizon has revealed that it is offering a $100 discount on the current list price of both the mobile phones launched in 2017 at Apple's store.

The 32 GB model of the iPhone 7 carries a $449.99 price tag, while the base model of the iPhone 7 Plus also gets discounted to $569.99. The 128 GB storage models will also be offered at similar discounts at Verizon.

However, there is a catch. This offer is only available to consumers who are willing to pay off the cost of the device through monthly payments over a 24-month contract. This means that for the 32 GB iPhone 7, consumers will have to pay $18.74 per month for two years. Similarly, for the 128 GB variant of the smartphone, customers will have to shell out $22.91 per month for 24 months.

Another con to the deal is that while this may look like a great deal. Apple will be taking preorders for the iPhone X starting oct 23, so it's important to note that the iPhone 7 will be three generations behind its newest counterpart, hence the deep discount.

The Verizon offer is quite similar to the iPhone 7 Plus as well. Users will have to pay $23.74 a month for two years if they want to get the 32 GB model of the iPhone 7 Plus. However, for the 128 GB premium model, consumers are liable to pay $27.91 per month for a period of 24-months to the Big Red. This is a limited period offer and will come to an end on October 12.

So, customers will have to hurry and place their orders before the deal runs out.

How attractive is the deal from Apple?

The current offer from Verizon is the lowest price at which customers can buy the two mobile phones since the carrier started retailing these devices in 2016. So, it is a deal worth checking out, especially for those who cannot afford to spend considerably more on the latest phones launched by Apple this year.

There are not many differences when it comes to the features and specs between the newly launched phones and the ones released in 2016. The older devices include the company's own A10 Fusion chipset and come with an aluminum finish that does not support wireless charging. On the other hand, the iPhone 8 duo comes with the latest A11 Bionic SoC and glass rear panel for wireless charging functionality.