AT&T will offer the iPhone 3G for $199 to new customers and existing AT&T iPhone users. Now Oppenheimer analyst Yair Reiner says that AT&T pays a $325 subsidy on the iPhone 3G.
If Apple sells the iPhone 3G through an Apple store the company gets an extra $100 from AT&T.
All in all Apple still makes quite a bundle on each sold iPhone 3G if these numbers are correct
More details on Barron's. More iPhone 3G News.
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