Ohhh…and the smartphone rumor mill keeps churning.  The latest, according to Cote Collaborative, is that Apple is considering cutting their monthly service charge for their iPhone by $10.  This is supposedly going to happen when they make their big introduction to their latest and greatest at the WWDC in June.

Obviously with the whole Palm/iPhone competition, AT&T is looking for a way to get in customers that might be thinking the service plan is too expensive.  And at the same time, we have Apple themselves possibly looking to move past AT&T and look around at other carriers (like Verizon).  But, if this price cut thing works and brings in more customers, obviously both Apple and AT&T will be sitting back happy.

The two year contract would be lowered by $240, brought down to $59 a month from the current $69.  This is a 14% savings.  Right now, if you want to buy an iPhone, a two-year contract plus the phone is going to run you a whopping $1,880.  Not exactly small change.  Cote says “This price does not address the whole market.”  And apparently Apple is getting a little concerned that this price barrier exists.  To point, Cote goes on to say “Wal-Mart iPhone sales haven’t met expectations.”  Ya think?

Although there have been some rumors of a nano-iPhone hitting the market for $99, geared for those who would like an iPhone, but can’t really afford one…Cote says…nope.  He doesn’t really expect one popping up anytime soon.  Though he says that playing around with the price plans shows that they do want to do something about affordability.  (Or at least AT&T does).