If you're looking for a $99 iPhone look no further than the AT&T Web site.
The company is now offering refurbished, 8GB black iPhones for $99 (with a two-year contract). Optionally you can purchase the black or white 16GB models for $199. AppleInsider reports that a similar deal was available online in late December.
AT&T defines "refurbished" as iPhones that were returned during the initial 30-day period either unused or used only slightly. All AT&T refurbished iPhones include a 90-day warranty.