Wal-Mart to offer iPhone 3GS for $97 with term, iPhone HD 4 could launch June 9

The largest retailer by volume in the world, Wal-Mart, has announced it would lower the price of the iPhone 3GS to $97 coupled with a two-year contract in the United States.

The new price marks a $100 discount from the regular price. As of right now, Wal-Mart will be the only retailer offering the iPhone 3GS at that lowest price available.

The price reduction at the world’s largest retailer signals Apple is readying the launch of the iPhone HD 4 and is attempting to sell off remaining quantities of the iPhone 3GS.

Apple co-founder and chief executive Steve Jobs will likely unveil the next-generation iPhone during a keynote speech that will be delivered at WWDC 2010 on June 7 at 10am.

The new iPhone is rumored to include video conferencing, HD quality camera recording, a 1GHz processor, increased memory, a higher resolution display (960×640 pixels), the new OS 4, among other features not yet disclosed.

 The details surrounding the next-generation iPhone surfaced after the popular technology blog Gizmodo purchased the device and published an online review, prompting the maker of the popular device to issue an official request to return the prototype iPhone that was surreptitiously encased in an iPhone 3GS casing.

The iPhone HD 4 is widely rumored to launch on June 9 in black and white colors, a couple of days after the WWDC keynote.

The device is expected to retail for as low as $199, and up to $299 for the higher memory version, with a two-year term.

The news of the price decrease by Wal-Mart comes as a Morgan Stanley analyst today increased projections of the future stock price of Apple (NASDAQ:AAPL) up to a range of $310-$400 per share, compared to a current price of about $245 per share.

The Morgan Stanley analyst, Kathryn Huberty, made the projection based on an unexpected increase in iPad demand, and likely higher than expected sales of the next-generation iPhone based on a survey that indicated 58-percent of current owners plan to upgrade to the new device.

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Chris is a graduate from the Art’s program at Ryerson University in Toronto, Canada. He is very passionate about photography and art. Write to [email protected]
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