On June 22, Leap Wireless's prepaid subsidiary Cricket Wireless will begin offering a $55 monthly prepaid plan for the 16GB model of the iPhone 4S.
While Verizon, Sprint and AT&T charge $649.99 without a contract for the model, Cricket will sell it for $499.99.
Cricket is offering the same $55 monthly prepaid plan for the 8GB iPhone 4, which can be purchased in its stores for $399.99.
The plan includes unlimited voice minutes, text messages and data (though after 2.3GB per month, they'll slow you down). It is the first prepaid plan to be offered for the iPhone.
Though Cricket's no-contract prices are lower than those of other iPhone carriers, they're still much higher than other carriers offer with a two-year contract. AT&T, for instance, offers the 16GB iPhone 4S for $199 with a contract.