Taken from Globe's FAQ about the iPhone 3G, Globe explains the reason for the steep price.
Q: How much is it? Why is the price like that?
A: The 8GB and 16GB are available under the Prepaid Kit offer. The 8GB retails for P41,899 and the 16GB retails for P48,899. While the price may be steep, the price is a result of increases in dollar exchange rates, as well as tax. This is why Globe is giving you P1,000 worth of load for every purchase. Plus, you even get P1,000 discount when you are one of the first 1,000 who avail via reservation!
Q: What's the Prepaid Kit offer?
A: Globe gives you the choice to avail of the iPhone 3G with a Prepaid SIM. It's not just a regular prepaid kit. This packages comes with P1,000 load value which will be sent to you over 5 months. That's P200 per month of load which you can use to browse the internet.
We encourage you to activate TIME browsing rate at P5 for 15 minutes by texting TIME to 1111. This way, you are able to maximize your web experience on the iPhone 3G without overspending. P200 worth of rebates is equivalent to as much as 10 free hours of internet time per month or as much as 50 hours of internet time over 5 months.