Wal-Mart, slashed the price of Apple's 16GB 3GS iPhone to $97 beginning Tuesday. 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iPhone next month, and could be working with retailers to clear out its remaining inventory of the about-to-be-outdated model. At the new price, customers will save $100 on Apple's smart phone, which currently sells for $199. The deal requires that the phone be purchased with a two-year contract from AT&T, the iPhone's exclusive service provider. At $97, Wal-Mart's price slightly undercuts the $99 price tag several analysts anticipated for the remaining iPhone 3GS stock. When consumers get sight of a new iPhone model on the horizon, sales of the existing model typically falls off sharply.