Wal-Mart plans to sell the black 8-gigabyte iPhone 3G model, which holds about 2,000 songs, for $197. The 16-gigabyte model, in black or white, will be priced at $297. All of the phones require a new two-year service agreement from AT&T Inc or a qualified upgrade, Wal-Mart said.

Wal-Mart also said its stores could match local competitors' advertised prices during a promotional period.

Numerous websites had previously speculated that Apple would offer a 4-gigabyte model of the iPhone for $99 at Wal-Mart stores.

The phones will be available in nearly 2,500 stores beginning Sunday, Dec. 28. (Reporting by Jessica Wohl; Editing by Derek Caney)

By: DocMemory
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