Brazilian iPhone fans have something to cheer about today. The prices for both the iPhone 4 and iPhone 4S have been reduced to a much more reasonable level than before, although they're still much more expensive than the carrier-subsidized phones we're used to here in North America.
An 8 GB iPhone 4 used to pull R$1,499 (US$743) out of a Brazilian's cartiera (wallet), and now makes a smaller dent at R$1,099 ($544). If you want a 16 GB iPhone 4S, that's now available for only R$1,699 ($840), a significant discount over the previous price of R$1,999 ($991).
Brazilian newspaper O Globo says that those willing to pay in full in person or by phone at an Apple dealer can probably get another 10 percent discount off of these already much lower prices.