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New 3G IPhone Only For 199$

The iPhone will soon be $200 cheaper and come with satellite navigation and faster Internet access, but it will be pricier to own because monthly service charges are rising. Apple Inc. revealed Monday that it has scrapped its premium pricing plan for the iPhone and unveiled an upgraded model that works over faster wireless networks, addressing key criticisms about the device that have hurt the company's foray into the cell phone industry.

The iPhone's lowest price - for an 8-gigabyte version with the major new features - will fall to $199 when new models go on sale July 11, the Cupertino-based company revealed Monday. A 16 gigabyte model is to sell for $299.The new iPhones are designed to work over so-called 3G, or third-generation, wireless networks and have global-positioning technology built in. They'll roll out initially in 22 countries. Apple has inked deals for wireless carriers in a total of 70 countries to carry the new iPhone.

Apple Chief Executive Steve Jobs showed off the new models of the iPhone and about a dozen new applications for the device at Apple's Worldwide Developers Conference in San Francisco.

The 1.73 million iPhones Apple sold in the first three month this year gave it a 5.3 percent share of the worldwide smart-phone market, according to research firm Gartner. Apple has been adding overseas markets gradually with carrier deals.