iPhone 4 32GB
300 minutes
unlimited texts
500Mb internet
24 month contract

Phone is free

Total cost over the 24 months: £720

For this product, Vodafone usually charges an extra £269 for the phone

Other than Tesco Mobile which is seemingly impossible to get stock, this seems to be the cheapest iPhone 4 32Gb over the term.

Direct link: http://shop.vodafone.co.uk/shop/basket/addToCart.jsp?skuId=sku3080044,sku3100030

If you’d rather have 600 minutes for £35/mo with the free phone, use http://shop.vodafone.co.uk/shop/basket/addToCart.jsp?skuId=sku3080044,sku3100031

** UPDATE **
As TehJumpingJawa points out, some may prefer 75 mins, 250 texts over 18 months @£30/mo: http://shop.vodafone.co.uk/shop/basket/addToCart.jsp?skuId=sku3080044,sku3100035

iPhone 4 32GB on Vodafone, FREE PHONE, £30 x 24mo 300 mins OR £30 x 18 mo 75 mins

£129.99 Free Delivery

RRP: £199.99 | You save: £70.00 (35%)

Sony Ericsson W890i walkman phone only £129.99 PAYG from Play.com

Comes with 2gb memory as standard

Vodafone will unlock is for free if you call 191 from the handset

Phone details:

3.15 Megapixel Camera with video and secondary video call camera
Walkman player
TrackID music recognition
FM radio with RDS
Ringtones Type: Polyphonic, MP3, AAC
3G: HSDPA
GPRS: Class 10 (4 1/3 2 slots), 32 – 48 kbps
EDGE: Class 10, 236.8 kbps
HSCSD: Yes
Browser: WAP 2.0/xHTML, HTML (NetFront), RSS reader
Bluetooth: Yes, v2.0 with A2DP
USB: Yes, v2.0
Messaging: SMS, EMS, MMS, Email, Instant Messaging
Vibration Alert: Yes
Built-in handsfree
26 MB shared memory
Memory Card Slot: Memory Stick Micro (M2)
Weight: 78 g
Dimensions: 104 x 46.5 x 9.9 mm
Stand-by: Up to 360 hours
Talk time: Up to 9 hours 30 min
Image viewer
Picture editor
Organiser

Click here to get yours