Yes, its true, Today at developer conference in San Francisco Apple launched its new iPhone its a 3G phone. Its half as cheaper then the classic model.
8 GB for 199$ and 16 GB for 299$, and for the first time 16 GB model will be available in white color as well. July 11 is the release date, but in India it would be available around late September.
Check Apple's Website for more detail
