The worst kept secret in telephony is that there is a new Apple iPhone coming in the fall. Thus, some of the big box retailers that offer the current version of the device are starting to offer discounts to clear inventory. Apple stores are not advertising any such price drops, but a new report claims that employees have been given authorization to offer price matches.

The folks at MacRumors were tipped to a document that lists just how low employees can go to price match competing retailers like Target, Best Buy, RadioShack and the Sprint store.

All prices on the iPhone 4 and 4S can be dropped by $49.01, meaning that if you walk into an Apple store and tell them you saw an 8GB iPhone 4 at Best Buy for less, the store should price match down to $49.99.

You will probably have to mention the competitor name and price. Luckily, MacRumors has posted the price-matching grid so you don’t actually have to research.

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