Tthe 16GB version of Apple's latest smartphone will cost just £19 if Brits take up a £45 per month tariff, which is tied-in for two years.
Users will also get unlimited minutes, texts and a data allowance of 1GB per month. Alternatively, they can pay £99 for the 32GB version.
Click here for details on all Apple iPhone 4 deals.
The iPhone 4 is available on two other tariffs from Tesco Mobile. A one-year £20 per month contract gives Brits 250 minutes of talk time as well as unlimited texts the same monthly data allowance of 1GB. However, they'll also need to pay £249 towards the 16GB handset or £429 for the 32GB version.
A £35 per month contract is also available. Consumers will be tied-in for a year but get 750 minutes, as well as unlimited texts and 1GB of data. Consumers will have to fork out £229 for the 16GB iPhone 4 and £299 for the 32GB iPhone 4.
The smartphone will also be available on a pay as you go basis. The 16GB iPhone 4 will be priced at £479 on pay as you go, while the 32GB version will cost £569.
The 16GB version of Apple's latest smartphone will be available for free on Vodafone for those that take out a two year £60 per month contract, or an 18 month contract for £65 per month, which comes with 3,000 minutes and unlimited texting.
The deal also includes a 1GB data allowance, 1GB of Wi-Fi access and 5MB of European data roaming per day.
The cheapest package the handset is available on is a £25 per month two year deal that includes 75 minutes and 250 text message. The data, Wi-Fi and European roaming allowance is the same as the more expensive packages. However, Brits will have to fork out £219 towards the handset.
The 32GB capacity iPhone 4 is also available from the network on the same tariffs but customers will have to pay a subsidy of between £59 and £309 for this version.
The network also said it will release the handset on a pay-as-you-go basis in July.
It confirmed its pricing just comes days after the tariffs were leaked online. Tariffs are considerably more expensive than expected.
O2 announced how much its customers will have to pay if they want to get their hands on an iPhone 4 last week after initially unveiling pricing for its iPhone 4 tariffs but not how much users would be expected to pay towards the handset.
According to the updated monthly tariffs page on the O2 website, the 16GB version of Apple's latest smartphone will only be available to users for free if they sign up for the £60 two year contract, or the £65 per month deal, which is tied-in for 18 months.
On the cheapest contracts, which are priced at £25 per month and come with 100 minutes of calls and unlimited text messaging, O2 customers will be expected to fork out either £209 or £279 for the handset, depending upon whether they've got an 18 or 24 month tariff.
Those wanting to get their hands on the 32GB capacity version will be charged between £29 (on the £60 and £65 per month packages) and £323 (for the £25 per month deal).
O2 also revealed last week it had chosen to cap its once 'unlimited' data offering. Users paying between £25 and £35 per month on a 24 month contract or between £30 and £40 per month on an 18 month contract have a data allowance of 500MB per month
Those whose tariffs offer 900 or 1200 minutes per month will find their data is capped at 750MB, while those on the 'unlimited' monthly contract have a 1GB data allowance.
The unlimited Wi-Fi use remains.
O2 is also running an upgrade offer for a limited period that will allow customers still in contract to get their hands on a new iPhone.
Instead of paying off the remaining contract in full, O2 will let customers that want to take out a new iPhone 4 contract pay a one-off charge based upon a £20 per month fee for each full month left to run on the contract.
O2 customers interested in upgrading can visit the network's dedicated upgrade web page and enter their upgrade date to get an estimate as to how much the one-off charge will be.
However, the network did say the scheme could not be used in conjunction with an early upgrade eligibility that might already exist.
"With three years' experience in selling the iPhone we are well placed to support the new device with the best overall experience, including making it easy for new and existing customers to get their hands one," said Ronan Dunne, UK chief executive of O2.
O2 has also created a dedicated web page where it will post further information about the iPhone 4 as it is made available.
According to the mobile netwok's iPhone tariff details, which were released yesterday, the package for the 16GB version of the handset in either black or white, comes with unlimited calls and unlimited texts.
Orange is also offering an 'unlimited' data allowance across all of its iPhone 4 tariffs. However, a fair usage policy means the allowance is capped at 750MB. The Wi-Fi allowance is also capped at 750GB.
The cheapest two-year iPhone contract is £30, with a £169 charge for the phone, while for those that want an 18-month contract, prices start from £35. However, they will have to pay £229 towards the handset.
The 32GB capacity iPhone 4 is also available on the same tariffs, however a handset charge is applicable on all packages.
Alternatively, the handset is also available on a pay-as-you-go basis. Its costs £480 for the 16GB version, and £570 for the 32GB capacity handset.
According to Apple's website, the white handset is currently unavailable for pre-order. However, Brits can get their hands on a black version.
The 16GB handset is priced at £499, while the 32GB phone costs £599. The handsets are SIM-free, which means you'll still need to obtain a SIM from a UK mobile network before you can start using the device.
Those looking to purchase the handset through a mobile network on a monthly tariff are still waiting to find out how much they will have to pay.
3's move to offer the iPhone 4 means its the first time the network's customers can get their hands on Apple's smartphone, as it has not stocked any of the previous version of the iPhone.
Apple's latest smartphone was unveiled by Steve Jobs this week at the company's Worldwide Developers Conference (WWDC).
The new handset, which features an all-new design, has "well over 100 new features" including an HD screen, video calling, a gyroscope, a new iMovie app and countless other upgrades.