If you don’t want to get locked into a 2-year contract with that new iPhone, it’s going to cost you—about the same as another two iPhones.

Apple recently announced a better, cheaper iPhone, coming on July 11 for $199 (8GB) to $299 (16GB). However, users will need to lock into two years to get that deal. Reuters says that the same unit will cost chatters an extra $400 if they don’t want to sign up for the long-term committement.

Sheesh. I’ve signed up for two years for a lot less. Would you be willing to pay the extra cash for an iPhone?

The new iPhone will only be available through AT&T and Apple stores—not online. Plans start at $70 a month. The no-contract plan will run month-to-month, and be available sometime after the iPhone’s July 11 release date.

Rachel Cericola - Contributing Writer

Over the past 15 years, Rachel Cericola has covered entertainment, web and technology trends. Check her out at www.rachelcericola.com.