Wal-Mart on Friday formally announced plans to begin carrying the iPhone later this week but will not be selling the device at rock bottom prices as once rumored. Sorry, no $99 brand new iPhones will be sold. There will be a $2 discount on the price, but that isn’t much of a barnburner.

In total, nearly 2,500 Wal-mart stores will carry the Apple handset, selling the 8GB model for $197 and the 16GB model for $297 with a new two-year service agreement from AT&T or qualified upgrade. It really won’t matter, as its availability in one of the world’s largest retailers will greatly boost its visibility and userbase, and assure Apple the smartphone crown for quite awhile.

Wal-Mart also announced that its price match policy allows stores to match the price of any local competitor’s advertised store price on the iPhone should one of its rivals announce lower pricing, so you’re covered either way. There aren’t normally huge sales on new iPhones, so this is a safe bet for the chain.

They join Best Buy as the only two US third-party retailers to carry the iPhone.