Wal-Mart (WMT) To Start Selling Apple's (AAPL) Popular iPhone This Month

Wal-Mart Stores (NYSE: WMT) will begin selling Apple Inc.'s (Nasdaq: AAPL) iPhone this month, putting the device in front of millions of cost-conscious customers that typically don't shop in Apple's retail stores, according to Wal-Mart store representatives.

While Wal-Mart is staying mum on whether it plans to sell the iPhone, store employees in California, Arizona, Nevada, Texas and Washington contacted by Bloomberg News said the iPhone will be available for sale on December 28th.

Apple has spent the past year expanding its iPhone distribution points across the globe, which accounted for more than a third of Apple's revenue last quarter. The revolutionary iPhone is now available in more than 75 markets, up from six countries earlier this year. Recently, Best Buy Co. (NYSE: BBY), the largest U.S. electronics retailer, began selling the iPhone.

Currently, Apple sells 2 iPhone models, for $199 and $299. However, Wal-Mart is expected to sell the phones for a slightly cheaper price--$197 and $297, with a two-year service contract, technology site Engadget.com said yesterday.

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Apple Inc designs, manufactures, and markets personal computers, portable digital music players, and mobile communication devices and sells a variety of related software, services, peripherals, and networking solutions.

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