TELUS has launched a new promo which offers discounts on a variety of smartphones on this page, including the iPhone 5. Users can save $50 off two year term contracts, bringing subsidized pricing down to the following:

• 16GB iPhone 5 – $149
• 32GB iPhone 5 – $249
• 64GB iPhone 5 – $349

The discounts will only be reflected once you add the phone to your cart and head to the checkout, as seen below:

Of course, you will be required to choose one of the new SharePlus plans, which starts at $55 per month for voice, then a data plan on top of that. The company tells us this promo will go until August 7, 2013. Let us know if you’re going to jump on this.