Here’s some good news from Apple. Apple has now dropped the price of the last generation iPhone, the iPhone 3GS to $49 with a new two year mobile contract. This goes along with the recent price drop from AT&T on the iPhone 3GS and comes just as we are expecting Verizon Wireless to announce the Verizon iPhone, so this is AT&T’s chance to lock customers into a new two year contract before Verizon starts selling the iPhone.

We aren’t sure if Verizon will be selling a version of the 3GS as well as the iPhone 4, but we suspect that it will just be the iPhone 4 and we won’t see another iPhone available on the network until Apple launches the next iPhone.

[GG]