Apple Event: Ringtones Coming to the iPhone

Looks like the predictions were true—ringtones are, indeed, coming to the iPhone, and you'll be able to make your own tones from tracks on iTunes. However, you'll have to pay 99 cents on top of the usual 99 cent/song fee to do so.

According to Engadget's liveblog of the event, about 500,000 "participating" songs on iTunes will be ringtone-able; when you plug your iPhone into your Mac or PC, little bell-shaped icons will show you the songs on your phone that you can convert to ringtones. Using an editor on a new version of iTunes (available for download later today), you can then take clips of the song (up to 30 seconds), add fade-ins and fade-outs, and then transfer your new ringtone back to the iPhone. You'll be able to preview your new ringtone before you buy.

Yep, paying another 99 cents to make a ringtone out of a song you already own is pretty annoying; then again, most ringtones on the big carriers cost a whopping $3 or $4, so the new iTunes ringtone maker is a (relative) bargain.

Related:
Steve Jobs live -- Apple's "The beat goes on" special event [Engadget]