Wal-Mart (NYSE: WMT) will start selling iPhones by the end of the year, but it is unlikely that they will be available in time to take advantage of holiday sales. Of more importance, perhaps, is that the phone may be sold for its lowest price yet—$99. The rumors started circulating last week that a partnership between Wal-Mart and Apple (NSDQ: AAPL) may be in the works, but Bloomberg confirmed today that employees at five California stores said that Wal-Mart will offer iPhones by the end of December, likely after Christmas. Two of the representatives said the store will carry two models.

Bloomberg said analysts are suspecting that Apple may use the partnership to sell a discontinued 4-gigabyte version, which will allow it to hit what is considered a low price point for a smartphone. Wal-Mart will be the second outside chain to be allowed to sell the device, following Best Buy. Currently, two models are for sale—an 8-gigabyte and 16-gigabyte version for $199 and $299.