Following the rumor that Wal-Mart will start to sell a $99 iPhone, the retail chain neither confirmed nor denied the information. According to a statement released by the retail store’s representative, Kelly Cheeseman, Wal-Mart hasn’t made “an official announcement on offering the iPhone.”

The rumor had first appeared in November, when an internal memo was posted on the Boy Genius Report blog. The memo indicated that there had been an agreement between Apple and Wal-Mart on selling the 4GB iPhone at "Wal-Mart and Wal-Mart-managed Sam's Club Connection Centers nationwide beginning December 28."

The Boy Genius Report also cited unnamed sources that suggest that Apple intends to launch a full featured 4GB iPhone 3G and sell it through the Wal-Mart retail stores at $99 with a compliant 2-year contract. Although, the blog author states that he doesn’t trust the sources: "Don't hate us if this doesn't happen." Still, the $99 iPhone could be achievable as Wal-Mart has a similar offer with T-Mobile’s Android T1 which currently has a $148.88 price tag.

According to Needham & Company analyst, Charlie Wolf, Apple has all the reasons to release the $99 iPhone, as the device “could figuratively take over the smartphone market leaving only niche players like [RIM]'s BlackBerry.” Moreover, the profit that comes from the iPhone permits price cuts.

Apple’s move could not only win the money game, but also bring Steve Job’s company even more popularity. There are many people who just want to shout ‘I’ve got an iPhone!” and don’t care if it has a smaller capacity.