Walmart to sell iPhone for less than $100

May 25, 2010 2:40:16 PM PDT
The price tag on a 16 gigabyte iPhone GS at Walmart stores will be $97 beginning this week.

Apple's suggested price is $199.

Walmart's deal requires a 2-year contract with AT&T.

The reduced price comes less than two weeks before Apple is expected to unveil the next-generation model, which often leads to a dramatic drop in sales of older iPhones.