EverythingMac

AT&T may slash the price of its iPhone service plan by $10 when a new version of the touchscreen smartphone is launched this summer, according to a story on TheStreet.com. The article cited analyst Michael Cote of Cote Collaborative saying that there is a "strong possibility" that AT&T will drop the entry-level price of its service plan to $59 from $69. Apple is expected to unveil the latest iPhone on June 8 during the company's World Wide Developers Conference in San Francisco. AT&T declined to comment for this story, and Michael Cote did not respond to an e-mail request for an interview. The price cut would likely help make the iPhone, which now retails for $200 with a two-year service plan with AT&T, more appealing to more mainstream customers. I've been saying for quite some time that the biggest hurdle to widescale adoption of the iPhone or any other smartphone in the mainstream market is the high price tag of the service contracts.