If you thought that the iPhone 3G couldn’t get any cheaper than it already is, perhaps a trip to Japan could change your mind. Softbank Mobile, the exclusive carrier of Apple’s smartphone in Japan, will give anyone who signs a two-year contract a free 8GB iPhone 3G. If customers prefer the 16GB model, that will cost them $118 (reduced from $350). The 16B iPhone will also be discounted to $118, from $350; the 8GB used to retail for $235.

Softbank Mobile is also restructuring its data plan, so that new and existing subscribers will now pay $45.60 per month, down from $62.

[BoyGeniusReport]