Remember that Radio Shack sale that offered the iPhone 4 for $149 and caused a nationwide shortage in the Shack's retail stores? Well, Sam's Club is about to one-up Radio Shack with a Member-only promotion that drops the price of the iPhone 4 to $147 with a two-year customer agreement. The leaked internal communication suggests the promotion is available now and extends until Christmas day. If you missed the Radio Shack sale, then should definitely jump on the Sams' Club promotion as this is likely to be the cheapest you will see the iPhone 4 until the iPhone 5 is announced. [Update -- Radio Shack actually operates the wireless kiosks at Sam's Club stores. Ed.]
For those looking to spend even less money on an iPhone, Sam's Club is also reportedly discounting the iPhone 3GS to a lowly $47 with a two-year customer agreement. At these prices, there is little reason not to grab an iPhone or two for your friends or family. While you are at it, you can also grab an iPad as a companion device for your shiny, new iPhone. Remember, this is a rumor so call ahead before you trek down to your local store. This promotion is also limited by supply, so don't wait until Christmas eve to take advantage of this discount.