New 3G iPhone Spells Price Reduction For Older Versions

Apple announced on Monday that the current iPhone model will soon be available at half price. The news announcement is expected to address those users who currently have poor network connectivity. According to Steve Jobs, CEO of Apple, the newest version of the iPhone will offer advanced 3G support which is expected to be up to 36% faster when compared to other phones. With the release of the new 3G model iPhone imminent, the 8GB iPhone will be reduced to $199 and the 16GB version will sell for $299. Jobs also stated that the new Apple iPhone will be available throughout the world beginning on July 11, 2008. Features of the new version include of course 3G support, maps with GPS and web browsing support for 6 hours and talk time for 5 hours. The arrival of the new 3G iPhone comes after a period of speculation and rumors that have been circulating since the World Wide Developers in San Francisco. Since the announcement of the iPhone, Apple has seen a reduction of 4% as investors began to look forward to get the new gadgets from the market. Over the past three months alone, there has been an increase in Apple stocks by 55%. While the price cut in the original versions of the iPhone has been a welcome change for Apple customers, AT&T stated that they will face the heat while giving subsidy to the newest version of the Apple iPhone.