What It Could Mean That Walmart Has Discounted The iPhone To $97

Walmart will start selling the 16GB 3GS iPhone for a blockbuster price of $97 tomorrow as part of its big advertising campaign to “rollback” prices this spring.

The price drop by the big-box retailer represents a $100 discount, but could also signal that Apple (NSDQ: AAPL) is trying to clear out inventory to make way for a new phone coming in June, as has been the pattern now for three consecutive years. If price is your big concern, the deal is attractive. However, if features are what you are looking for, waiting two weeks to see if a new device is unveiled at the company’s Worldwide Developer’s Conference on June 7 is probably wise.

Apple also announced today that CEO Steve Jobs would deliver the opening keynote at WWDC at 10, and began inviting media to the sold-out event in San Francisco.