Updated: Well, it was too good to be true. Walmart reached out to 9to5Mac and said that it “experienced a pricing error in limited stores” yesterday. So, the chain will stick with its usual prices – $188 for the iPhone 4S, $88 for the iPhone 4, and $0.97 for the iPhone 3GS.

Still looking to purchase an iPhone 4S or iPhone 4? You might want to look at your local Walmart.

Apparently, a small number of locations in the ubiquitous retail chain are offering both the black and white 16GB iPhone 4S with AT&T service and a new two-year contract for a very low $114, down from the usual $188 price offered at the store.

And the 8GB iPhone 4 is also a steal at some locations. Both colors of the AT&T version are being offered for a low $34 with a two-year contract.

But, unfortunately, the new prices seem to be sporadic as only some locations are offering the great deals. Walmart’s website doesn’t reflect the lower prices, but does say prices may vary at the stores.

Either way, it’s probably a good idea to check and see what your local Wally World has to offer if you’re looking for a new iPhone. While I like to shop at my local Apple Store (and so do a few others, it seems) those deals should help draw some customers to the retailer. Hopefully, the prices will be rolled out nationwide.

If you don’t mind purchasing a full-price iPhone, Walmart’s Straight Talk service is also a great value as well.

Have you checked the iPhone prices at your local Walmart lately? If you haven’t purchased an iPhone yet, would a price like this change your mind?

Do you think this move, with WWDC on the agenda, is a sign that the new iPhone might be appearing sooner than later?

(Via AppleInsider, image via eurthisnthat.com)