If you thought $199 for an iPhone 3G was cheap, then you haven't heard how much the iPhone will retail for in Mexico. According to The Canadian Press, America Movil SAB, the largest mobile phone service provider in Latin America, will sell the 8GB iPhone 3G for as little as $75 to those who sign a two-year contract that includes 400 minutes and a scant 200MB of data downloads for about $77 per month.

But before heading south to get one, keep in mind that in order to sign up for a plan with one of America Movil's partners, you'll need a Mexican address, and other credentials since they're likely to perform a mandatory credit check before handing an iPhone to just anyone.

The LA Times Michelle Quinn spoke to a Telcel representative who said the phone would work in the U.S. but it would be "kind of crazy" for Americans to get one because they'll have to pay international roaming rates.

The iPhone 3G will go on sale this Friday in 22 countries including Mexico, so here's a link to The iPhone Blog's quick roundup of plans being offered to those of you living outside the U.S.

iPhone set to debut in Mexico at half its price in the U.S.

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How the half-price iPhone 3G actually costs you more
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