Walmart knocks down price of iPhone 4 to $147 for month of June

While it still not clear exactly when Apple will be releasing the next version of its iPhone, Walmart announced on Monday that it will be cutting the price of the iPhone 4 for a limited period at its stores (though not via its website) across the country.

According to the LA Times, the price of the 16GB phone will be $147 (down from $199) until July 1, when the price will return to normal. The 32GB model is not included in the offer.

Both AT&T and Verizon models are part of the deal and any purchase will have to be made as part of a two-year contract. The AT&T version is currently on sale in more than 2200 of its stores, and the Verizon version is available in more than 600, though the company said it will be expanding availability in the coming weeks.

In the report, Tara Raddohl, a spokesperson for the retail giant, said that the offer was being made as part of its usual strategy to offer competitive prices “on the broadest assortment of products.”

There have been plenty of rumors recently about when the next version of the iPhone, likely called the iPhone 4S, will be released. Latest reports suggest it could arrive in July or August. When that happens, expect the cost of the iPhone 4 to drop in response.

At its Worldwide Developers Conference, which kicked off in San Francisco on Monday, the Cupertino company announced details of iOS 5, the latest version of its operating system for Apple’s mobile devices. More than 200 new features are included in iOS 5, which is set to be released in the fall.

Apple also unveiled its long-awaited iCloud service, as well as information about Lion, the next version of its operating system for Mac computers.

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