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December 3, 2008 1:54:23 AM CST

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ATT to Offer Half-Priced iPhone

Posted Apr 30, 08 11:43 AM CDT in Business,  Technology 

(Newser) – The new iPhone will have not only a GPS chip and a slimmer silhouette, but a much lower price tag than its predecessor, Fortune reports. AT&T will subsidize as much as half the cost of each phone bought along with a 2-year contract, a source tells Fortune, bringing the price to an industry-competitive $199. The new phones would be locked to prevent customers from using them with rival carriers.

AT&T would quickly recoup the $200 it fronts for each handset, as iPhone users on average run up $100 monthly bills—twice what other customers generally pay. But that's not free and clear profit: unlike other phone makers, Apple charges AT&T a percentage of its earnings from iPhone contracts. The new model is expected around June 27.

Source Fortune Magazine

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The new version of the iPhone, the 3G, will be a few millimeters slimmer than the previous generation, and carry a GPS chip.   (AP Photo/Paul Sakuma, File)
Wil Gieseler talks on his Apple iPhone in front of a iPhone poster at the MacWorld Conference in San Francisco, Tuesday, Jan. 15, 2008. The handset might be about to get much cheaper.   (AP Photo/Paul Sakuma)
Buying a new iPhone at an Apple store won't get you the new rumored rebated from AT&T - the discount is linked to a 2-year service contract.   (AP Photo/Mark Lennihan)
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