“Money Talks” is what I would presume AT&T is thinking by aggressively reducing the cost of an 8GB Apple iPhone 3GS down to just $49 online and at more than 2,200 U.S. retail stores.

“We want to deliver the best, most complete package for our customers – from price, to speed, to worldwide access and more…” explained the chief marketing officer at AT&T.

The offer is available for current and new customers, and you will have to sign a two-year agreement, but $49 bucks for a 3G smartphone, specifically an iPhone…designed by Apple; is a good deal. Time will tell if this new offer is good enough to divert just some of the attention that existing and potential customers might be giving AT&T’s major U.S. carriers in the next couple of weeks.