Last week, Boy Genius Report cited an unconfirmed source that Wal-Mart may begin selling a 4GB iPhone for only $99. Based on available Wal-Mart training materials and advertising (pictured above) we've received, however, it seems that this rumor is unlikely. The advertising shown only lists 8GB iPhones for sale at $197, without any hints of a cheaper model. The iPhone will go on sale at Wal-Mart beginning on December 28th.
This information also correlates with MacBlogz' AT&T sources who claim the 4GB rumors were untrue.