Apple Inc. (NASDAQ: AAPL) and AT&T (NYSE: T)announced on Tuesday three new service plans for the much anticipated iPhone, ranging from $59.99 to $99.99.

The companies said that they will introduce three service plans, each including unlimited Internet access, roll-over minutes, and a number of other standard mobile features. The plans will also include service for the iPhone's visual voice-mail system, a feature allowing users to see who left messages for them.

"We want to make choosing a service plan simple and easy, so every plan includes unlimited data with direct Internet access, along with Visual Voicemail and a host of other goodies,' said Steve Jobs, Apple's CEO.

The companies will offer a $59.99 monthly plan which includes 450 minutes of voice time; a $79.99 plan that includes 900 minutes; and a $99.99 plan includes 1,350 minutes. There also is a $36 activation fee.

Apple's new phone has been anticipated for months. Shares of the company have risen nearly 35 percent since the device was announced in January.

Jobs has previously said he expects the device, which can surf the internet and play music and video, will sell 10 million units in its first year.

Shares of Apple fell $2.70, or 2.21 percent to trade at $119.55 in mid-day trading on the Nasdaq Stock Market.