That’s the Australian dollar equivalent of the US$199 which US carrier AT&T is rumoured to be pricing a new 3G iPhone at – less than half what the current model costs.

With a price tag like that, AT&T would be heavily subsidising the handset in an attempt to cement the Jesus phone’s market dominance. AT&T has and exclusive five year deal to sell the iPhone in the States and sources speculate that the low price point will be offered to customers signing up on two year contracts.

Such 24-month contracts are commonplace in Australia, of course, so will we see the same great deal when the iPhone launches here? That all depends on the local carrier, of course – and the contest to sell the iPhone over here just took another interesting turn.

The ACCC has already warned Apple and Australia’s telcos that an exclusive agreement like the one done with AT&T might be declared illegal down under. An anonymous source has told CNET Australia that the iPhone will launch on the Optus network in late June – backing up recent rumours – but that it won’t be an exclusive deal.

A lack of exclusivity could affect the telco’s willingness to subsidise the handsets, but competition might force their hand – resulting in cheaper iPhones for Australian consumers.

A multi-network offering might also mean Australians can buy unlocked iPhones through Apple retailers. Coincidentally, the AT&T price drops are rumoured by analysts to be a pre-emptive move to enable the company to compete if unlocked phones go on sale in Apple Stores in the US. Sydney’s flagship Apple Store is expected to open in the next month or two, so it seems all Apple’s ducks are lining up in time for June.

We can’t imagine a 3G iPhone – or any iPhone model for that matter – debuting at $200 in Australia, but the manoeuvring at least raises hopes eager early adopters won’t be price gouged.