iPhoneIf you haven’t heard by now, the price of Apple’s popular iPhone 3GS touch-screen phone has slashed its cost … they’re now available for $97 at Wal-Mart.

The price cut began earlier this week for the 16GB model, the lowest it’s been on sale for.

It usually retails for $199, and obviously, is only available with a two-year contract from AT&T, the iPhone’s exclusive service provider.

According to CNN Money, Apple is widely expected to unveil a brand-new iPhone next month, and could be working with retailers to clear out its remaining inventory of the about-to-be-outdated model, to make room for the next version.

When a new version is released, the sales of previous models decline sharply, which could explain the steep cut in cost.

After the news broke of the stolen iPhone 4 last month, tech geeks are anticipating its announcement, which Apple has yet to do.

Stay tuned…