Even though it was only released at the end of October, the G1 has already had its price slashed by T-Mobile, who are clearly hoping to appeal to cash-strapped customers during our first Credit-Crunch Christmas period.

The price has been quite significantly altered on the contract. Whereas customers initially had to take out a £40 contract to get the phone for free, this figure has now been reduced to just £30 a month, making quite a significant difference.

However, if you were one of the first to buy the phone and are now feeling a bit hard done by, T-Mobile has been quick to point out that customers can claim back some compensation by getting in touch with the company, so it should not be too hard to enjoy the same deal.

Why the company decided to cut the price so drastically at such an early stage is not entirely clear, but it surely has something to do with the other exciting phones that have been released over recent weeks, including the INQ1 Facebook phone and the Blackberry Storm, not to mention the established iPhone 3G currently being sold through O2.

All of these high-profile launches have certainly made the phone market more competitive, and with good deals to be found all over the place as companies attempt to bring in tentative customers, it is a great time to pick up a good bargain.

T-Mobile has emphasised the fact that they are not reacting to poor sales of the G1, but are in fact just making it more competitive in the current market. Frankly, as consumers, we don’t care why they are doing it. We’re just happy to make use of this seasonal generosity on their part.