Leap Wireless (LEAP +1.9%) edges higher as it begins selling the iPhone (AAPL). Leap's unique...

|By:, SA News Editor

Leap Wireless (LEAP +1.9%) edges higher as it begins selling the iPhone (AAPL). Leap's unique offer terms - the 16GB iPhone 4S costs $500, but comes contract-free, and plans go for just $55/month - could make it a testbed for a broader effort by Apple to sell the iPhone with a combo of low subsidies and cheap service plans. With Verizon and perhaps soon AT&T hiking service plan prices for many upgrading users, Apple has more incentive to explore alternative sales approaches.