According to MacRumors Wal-Mart 8GB iPhone 3G model will be selling for $197 at Wal-Mart.Two ollars less than other retailers.

Wal-Mart has already been selling G1s for $148.88, or about $31 less than wireless carrier T-Mobile is charging for the same phones.

8GB iPhone 3G will go on sale at Wal-Mart at the end of December.

References:
http://www.macrumors.com/2008/12/08/99-wal-mart-iphone-seems-unlikely/

From Apple iPhone Blog. Please read the complete article and let us know what you think below.