Simple economic theory states that buying and selling in volume is the key to lower prices and nowhere is this principle more clearly realized than in a recent announcement by Wal-Mart to start selling the T-Mobile G1 (Google phone) for $148.88 on Wednesday October 29 in roughly 550 of its stores for consumers who sign up for a two-year T-Mobile contract.

This is significant because T-Mobile itself is slated to drop the phone for $179 with the same contract.

Released for T-Mobile, the G1 is the first mobile device powered by Google's open-source Android software. It embeds a large touch screen similar, integrates a 3.0-megapixel camera with photo-sharing capability, and builds in a trackball and slide-out keyboard.

For full specs, click here.