Wal-Mart Cuts iPhone Price to $97

Wal-Mart (Stock Quote: WMT) will be cutting the price of entry-level iPhones in half starting today. Currently, the 16GB iPhone 3GS lists for $199 on Apple’s (Stock Quote: AAPL) Web site but Wal-Mart will now sell it for just $97. (Sure, they could have just reduced it to $99 like most normal companies, but the extra $2 just makes it all the sweeter. You can use the two bucks to buy your first app.)

In order to take advantage of the deal, you do need to sign up for a new 2-year contract, or else renew your existing contract with AT&T (Stock Quote: T). But then again, what good would a phone be without a contract?

According to the Wall Street Journal, Wal-Mart claims this decision is based on their “commitment… to offer aggressive discounts on a weekly basis.” But most experts assume that this is a sign that Wal-Mart is clearing old inventory for a new iPhone model that many expect to be released early this summer.

“Wal-Mart’s price cut is particularly notable because when Apple introduced the iPhone 3GS last year, it cut the price of the older iPhone to $99,” the Journal reports. Similarly, Wired notes that Apple could announce the new phone as soon as June 7, when Steve Jobs will be headlining a conference in San Francisco.

So, if you are looking for the most up-to-date Apple product, you may want to hold off, but otherwise, this is a great deal no matter how you look at it. However, it remains to be seen whether this price drop will help Apple beat out competition from the Droid phones, which are now outselling the iPhone.

Planning on taking advantage of this deal? Here are 15 bad iPhone apps you shouldn't waste your money on.

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