UPDATE: Walmart just responded to 9to5Mac’s inquiry and said the retail chain “experienced a pricing error in limited stores” yesterday. The company spokesperson said the issue has been addressed and normal prices are now in effect: 16GB iPhone 4S for $188, iPhone 4 for $88, and iPhone 3GS for $0.97.

Cult of Mac reported that an Edmond, Okla., Walmart is offering the 16GB iPhone 4S for $114. The Verge followed-up the claim and reported an Austin, Texas Walmart store is providing the same deal; although, four other stores in the United States said the discounts are not in place.

The select stores are apparently selling the latest iOS smartphone at a $74 discount. Wal-Mart’s Web site lists the price of the iPhone 4S at $188, but the price comes with a “store pricing may vary” at select stores note. The 8GB iPhone 4 price tag is also cut by $34 at the two participating Walmart stores, according to the reports.

9to5Mac directly called 17 Wally World stores around the U.S., but we could not find similar deals offered at any of the stores. We also called the only two Walmarts in Edmond to confirm the reports. However, we were told the stories were wrong for the West Danforth Road store, because the iPhone 4S is still selling at its normal price.

Meanwhile, the Frontage Road store in Edmond said the iPhone 4S is “$114 this morning, for a little while…” but would not specify how long the deal is lasting. We then called the only two Austin-based Walmart stores and found the iPhone 4S for $114 at one location only. In other words, this sale is indeed sporadic.

There is speculation that this means the new iPhone is coming, but we are not ready to jump on that theory. Walmart cut prices of iPhone 4 in June of last year too. Moreover, Walmart is believed to be building an Apple Store within-a-store type of display at Walmart and Sam’s Club locations.

We also contacted Walmart headquarters for an official response, and we will update this post when more information is received.

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