Have you been on the lookout for top-end smartphones that will not burn a hole in your wallet? Well, you're in for some good news as, per reports, retailer Walmart is now selling the Nexus 4 and Samsung Galaxy Note 2 for $148 and $278, respectively.

Earlier this week, the grapevine was abuzz with rumors that Walmart would begin offering T-Mobile's variant of the Nexus 4 smartphone.

Now, the rumor has borne fruition and according to TmoNews, the Nexus 4 smartphone will retail for $148 on a two-year contract. Additionally, the smartphone will be only available in "1500 Walmart locations nationwide."

Recently, T-Mobile has started retailing the Nexus 4 for just $49.99, a web-only offer which is valid till Feb. 18. This means that the Walmart offering is currently $100 more expensive than the T-Mobile deal; however, once the web-only special expires on Feb. 18 consumers would have a cheaper option in the retailer. Additionally, purchasing the unlocked version of the Nexus 4 from Walmart will set consumers back by a whopping $550.

Walmart is also offering T-Mobile's variant of the best-selling Galaxy Note 2 smartphone in white. The Samsung phablet is priced at $278 on a two-year contract. T-Mobile offers the Galaxy Note 2 for $369.99, after a $50 mail-in rebate, which makes the Walmart deal $91.99 cheaper than the carrier's. If you want the off-contract Galaxy Note 2 from Walmart, be prepared to shell out $700.

With two great deals on offer from Walmart, which smartphone would you pick: Galaxy Note 2 or Nexus 4?