Australian telco 3 has reduced the price of its iPhone plans after just three days. The move comes just one day before the smartphone is set to launch on its network.

3 was the only Australian telco not to offer the iPhone 3G. It announced in June that it will be selling the iPhone 3GS and unveiled its original pricing plans on 13 July.

The company slashed monthly repayment prices on almost all plans. It will also offer the older iPhone 3G for free on a $49 cap.

3's 'hero' offer remains the same — the 16GB iPhone 3GS is free on a $79 cap plan over 24 months. This plan provides $650 worth of calls and text, 1GB of data and $350 worth of calls to anyone on 3.

The 16GB iPhone 3GS is also available on $39 and $49 caps with monthly handset repayments of $10 and $5 respectively (down from $18 and $14). The 32GB iPhone 3GS is available on the $39, $49 and $79 caps, with monthly handset repayments of $14, $10 and $5 (down from $24, $18 and $10).

For heavy users, $110 per month will give you 3000 minutes worth of calls, 500 SMS or MMS messages and 3GB of data per month. On this plan, the 16GB iPhone 3GS is free and the 32GB model is $5 per month.

The iPhone 3GS and 3G will be available tomorrow through 3 stores and online at 3's Web site. Visit 3's's iPhone Pricing Web page for full details.

For more information about iPhone pricing and to compare pricing across Australian networks see our iPhone Pricing Comparison.