IPhone to be sold with pay-as-you-go contract

NEW YORK (TOLEDO NEWS NOW) - Virgin Mobile USA will begin selling the Apple's iPhone with no-contract service, the Huffington Post tech section reports.

They'll begin selling the phone on June 29. Virgin Mobile is owned by Sprint and sells prepaid, no-contract phone service.

The basic phone will cost $549 up front. Service plans begin at $30 a month.

The Huffington Post crunched the numbers and compared having that phone for two years compared to a traditional iPhone plan. They say the Virgin Mobile basic phone and basic service will actually cost about $800 less in the end.

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