Walmart is set to cut the price of the iPhone 4 to $114 on contract and the 8 GB iPhone 4 to $34 according to these price cards and their internal pricing console. These are $54 and $74 price drops respectively, but it doesn't seem like many (if any) Walmarts have pulled the trigger on the new pricetags just yet.
While the price cut isn't a huge deal in and of itself, it does suggest that a new iPhone is right around the corner. We're expecting the iPhone 5 to drop in the fall, but if Walmart is already trying to clear out old iPhone stock, maybe we'll see the next iOS smartphone sooner than later.
It's a little curious that it seems like these price cuts are just for the AT&T version; maybe Verizon and Sprint models will be included with this slash goes into effect, but it's tricky to say at this point. Anyone want to take bets about a new iPhone being announced at WWDC, or are we just going to see iOS 6?
Source: Cult of Mac
UPDATE: Aaaaand it turned out to be a pricing error. Carry on, as you were.