Sam's Club rumored to offer Apple's iPhone 4 at new low price of $147

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A leaked internal memo from wholesaler Sam's Club shows that the company is set to offer Apple's latest-generation 16GB iPhone 4 for just $147 with a two-year AT&T contract.

In an internal memo leaked anonymously to Engadget, it appears Sam's Club will offer the 16GB iPhone 4 for $147 until Christmas day. The picture of the memo also mentions the 8GB iPhone 3GS available for $47 with a two-year contract.

"We will be offering these devices at this outstanding Member value until Christmas Day," the memo reads. "Please reprint your flags and have a great sales weekend."

The discount is the lowest yet seen for Apple's smartphone, beating a promotion held earlier this month by Radio Shack. That sale saw $50 knocked off the price of the iPhone 4, bringing the 16GB model to $149.

That promotion proved to be extremely successful for both Radio Shack and Apple, as the retailer almost completely sold out of iPhones nationwide. AppleInsider contacted a number of Radio Shack stores across the U.S. and found that all but one had no stock of the iPhone 4.

The Sam's Club price is $2 lower than Radio Shack's promotion, but also requires a membership to the warehouse club. Sam's Club, a subsidiary of Walmart, recently began selling the iPhone, along with Apple's iPad.