Store employees and various media reports are suggesting that Apple Inc's popular iPhone would be sold by Wal-Mart Stores later this month.

On Monday, it was informed by employees at various Wal-Mart stores that the iPhone will be available at the Wal-Mart stores in a week or two. However, no official announcement on offering the iPhone at this time was made by the retailer.

In recent weeks, it has been speculated by numerous websites that Apple will offer a 4-gigabyte model of the iPhone for $99 (67 pounds), which holds about 1,000 songs, at Wal-Mart stores.

In the midst of the U.S. recession, Wal-Mart has been gaining market share and clout as cash-strapped shoppers seek out its low prices, especially for hot electronics.