New iPhone, lower price: $199

From Yahoo! Tech -

The good news - the 16GB iPhone 3G will sell for $299, while the 8GB will go for $199. Also, the iPhone is available in white!

The bad news, the release date is July 11. Looks like we've got a little wait on our hands.

New features include, of course, 3G, GPS, and HSDPA. The new model is also thinner but the headphone jack is now flush with the case and the back panel is now glossy black plastic. Talk time is 5 hours of 3G (or 10 of EDGE) plus 7 hours of video, 5-6 hours of browsing and 24 hours of audio.

You can read the additional details here.