AT&T hast just launched its sale of refurbished iPhones in order to unload some inventory and offer cost-conscious shoppers a discount.

In AT&T Wireless' online store, a refurbished 8GB iPhone runs $99 with a two-year contract, while a refurbished 16 GB iPhone costs $199. However, both are $100 more when purchased new, but carry the same contract terms.

This move comes after a week it was rumored that national discount superstore Wal-Mart would offer its own exclusive 4GB model of the Apple iPhone 3G for $99. However, these rumors have been officially debunked this week, when Wal-Mart started offering the standard 8GB and 16 GB models of the smart phone for their original retail prices, with only a $2 discount.

Apple Inc is an American multinational corporation which designs and manufactures consumer electronics and software products. The company's best-known hardware products include Macintosh computers, iPod portable media players, and the iPhone. Apple software includes the Mac OS X operating system, the iTunes media browser, the iLife suite of multimedia and creativity software, and Final Cut Studio, a suite of professional audio- and film-industry software products. The company operates more than 250 retail stores in nine countries and an online store where hardware and software products are sold. Its iPhone is currently leading the smartphone market, with big chances of dominating it in the future.

AT&T has decided to sell these devices until December 31 or until supplies run out. The previously owned devices have been unused or lightly used and they were returned during the initial 30-day trial period, though some may have minor scratches. However, each device has now been quality tested and updated with the latest software. The refurbished devices offer a 90 day warranty. This new offer appears on AT&T's Web site.