Softbank to cut monthly iPhone fees

Less than a month after launching the iPhone 3G, Japanese carrier Softbank said it will cut its minimum monthly service fee for the iPhone from $66.57 per month to $27.63 per month. The reduced fee is part of the company's strategy to broaden the appeal of the iPhone and attract more users.

Softbank's new monthly fee structure makes it among the lowest in the world. In the U.K., the monthly airtime rate for the iPhone from O2 is $58.59.  In the U.S., AT&T charges a minimum of $39.99 per month.

Analysts say Softbank's aggressive discounting is part of its strategy to win market share over its competitors.

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