Walmart has proclaimed of a price cut of the Apple iPhone 3GS 16GB by more than half making it available at $97 for a two year contract.

According to tech sites, this supposedly is a move that confirms the yet to be released phone as Walmart slashes the price of existing stock.

As of now, iPhone 3G is currently available from Apple for $199 and in Walmart for $197.

Soon in the WWDC event the next iPhone 4G is expected to be released. This conference will aim at developers with their focus on mobile applications, which is apparently visible from the theme "Universe of Apps" and facts suggest that last year's iPhones were also announced at the same event.

It is also claimed that the release of the new 4G iPhone shall stash away the entry level 8GB iPhone 3G, as this model has gained enough rivals to be competed with at the same time it doesn’t gel along with iPhone OS 4.0's main feature, the ability to multitask.