Sprint's iPhone Rival Will Cost $129.99

3G

The Instinct, made by Samsung Electronics, will cost $129.99 when it hits the streets on June 20, coming in $70 less than Apple's iPhone. However, that includes a $100 mail-in rebate and customers must sign a two-year contract to get the Instinct at that price.

Users who want to "experience the full capabilities of the device" must activate an unlimited data plan with Sprint, the company said in a statement. Those plans start at $69.99 per month for 450 minutes.

The Instinct, a touch-screen smart phone that evokes the iPhone in both look and feel, will be sold through Sprint's retail and online stores and by phone. It is also available through Best Buy, which will have an exclusive contract from June 20 to Aug. 28.

The Instinct's features include visual voice mail, a 2.0 megapixel camera with camcorder and GPS. Like the low-end iPhone, it can be configured with up to 8 GB of memory.

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The Instinct is Sprint's answer to rival AT&T's exclusive contract with Apple to sell the much-lauded iPhone.

Apple CEO Steve Jobs announced the launch of the 3G 8-GB iPhone model at the company's developers' conference last week.

When it launches on July 11, it will cost $199 in the U.S. and be released in 20 countries.