The super-store said it would continue to sell the phone despite Apple no longer selling them, the Los Angeles Times reported.
Previously, the iPhone 5 was available at Walmart for $79; the store dropped its price by $50 on Friday.
Walmart said it has also begun selling the iPad mini with Retina, starting at $399.
Notable deaths of 2014 [PHOTOS]
Larry Ellison to step down as CEO of Oracle