Wal-Mart announced yesterday that it would begin selling no-contract cellphone plans. The Street has the details:
Straight Talk, which is a partnership with TracFone, a unit of America Movil(AMX Quote), will offer two plans for either $30 or $45 a month and will be available at more than 3,200 Wal-Mart locations starting on Oct. 18.
According to Wal-Mart, the average adult spends $78 on their cell phone bill a month.
Cheaper prices could, of course, take market-share away from carriers like Sprint Nextel(S Quote), MetroPCS(PCS Quote), Virgin Mobile(VM Quote) and Leap Wireless International(LEAP Quote), which offer plans for about $50 a month.
Retailers like Best Buy (BBY Quote) also offer no-contract cell phones in stores.