According to BusinessWeek, AT&T is considering cheaper iPhone plans. Slashing data prices could attract new subscribers to AT&T. Many users like having a full browser in the palm of their hands, but they don't like the price of AT&T's unlimited plan. If AT&T offers a cheaper plan they maybe able to attract new customers who only need the occasional web access.

AT&T and Apple are currently working out their contract which probably accounts for the pricing consideration by AT&T. Apple likely wants pricing flexibility and AT&T is interested in continuing as the exclusive iPhone carrier.

There is also word that a less expensive iPhone could be on the way. If that's true, a cheaper iPhone with a cheaper plan could boost AT&T's standing as it competes with other US carriers.

No official word on pricing is known at this time.