Update: It appears Wal-Mart did start selling Apple’s iPhone today.

8GB: $197USD
16GB: $297USD

Buy your iPhone today at walmart.com

Wal-Mart will sell the iPhone for a whopping… $2 less than the regular price with a two-year commitment (contract). $197USD for the 8GB model or $297USD for the 16GB model.

- source: tech.yahoo.com

The Boy Genius Report reports, Wal-Mart is to sell 4GB iPhones for $99 with a 2-year contract December 28th. Boy Genius Report is not entirely confident that this is true.

When Apple originally introduced the iPhone, it shipped in 4GB and 8GB models. A couple months later, Apple discontinued the 4GB model completely and dropped the price of the 8GB model. Apple, now, sells iPhones for $199 (8GB) and $299 (yup, you guess it, 16GB) with 2-year contracts. A 4GB iPhone model for $99 does make sense, but will it happen? $99 will be aggressive and will sell alot more iPhones. Only time will tell. Stay Tuned!