Starting today, January 7, 2010, AT&T is offering the Apple iPhone 3GS 8GB for $49 with a new or renewal service contract on AT&T.

The Apple iPhone 8GB 3GS comes with a fast processor, built-in GPS and integrated compass for navigation with Google Maps, enhanced enterprise support, instant remote wipe, a 3.5″ touch screen, 3-megapixel autofocusing camera with 30FPS VGA video recording, Nike + iPod support, at least 5 hours of talk time on 3G, and more