If price is a deterrent in getting an iPhone, opportunity will come knocking this Friday as the iPhone 3GS will be available with the cut price tag of $49 from AT&T (News - Alert).

The discount announcement was made this morning—the current price for the iPhone 3GS on AT&T’s website is $99, while the iPhone 4 sells for $299.

Purchasing the iPhone (News - Alert) at this price does require a two-year contract agreement with AT&T of at least $39.99 per month, in addition to a $15 data plan.  AT&T is currently the only network provider of iPhone. 

However, the exclusive relationship is expected to end as Verizon (News - Alert) is soon to join its ranks—a possibility that has been indicated to happen early this year.

There has been some speculation that this move was made in an effort for AT&T to break away from its dependence from iPhone.

The Dow Jones Newswire reported that AT&T added a record number of iPhone subscribers in its third quarter. Despite the cuts made into its near term profit by paying Apple (News - Alert) subsidies—AT&T is making its final effort to capitalize its exclusive position by cutting the price of the iPhone and roping in as many two-year contracts as possible.

The well-known Consumer Electronics Show began today in Las Vegas, where AT&T is expected to reveal 20 new smartphones other than iPhone, soon to be available to its customers.

Other retailers are also offering iPhone promotions, including Radioshack and Wal-Mart.