Based on current iPhone hardware pricing, and service costs, the estimated cost for owning an iPhone over two years is hovering at about $2,200. This is the lowest price as it assumes that you have selected the 4GB version and the cheapest service.
This price is bound to change considering the estimate was made using current Blackberry and smartphone plans. It also does not include the price of your 2nd gen iPhone 5 months from now.
Apple’s iPhone: Adding Up the Costs [Business2]