Walmart announced this week that they were chopping the price on 16 GB iPhone 4’s to $147, down from $197. The deal is only for a limited time and runs through June 30th.

The phone will require getting a new a contract. You can get the phone on either AT&T or Verizon.

The announcement was timed to coincide with the big Apple developer’s conference being held this week.

The price point isn’t without precedent. For a limited time in December 2010 running up to Christmas, Sam’s Club sold the 16 GB iPhone 4 for $147 and Radio Shack sold it for $149.

With no iPhone 5 announced this week, the price drop is a good way to jump in on getting an iPhone if you’ve been holding off.

Wal-Mart cuts iPhone 4 price to $147 [Cnet]

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