Several independent reports indicate that gray market iPhone 3G has landed in the Philippines. Apparently, there are plenty of them coming in from neighboring Hong Kong.
iPhone 3G Philippines
The price “” a cool Php61,500 for the 8GB. The cost includes the mandatory 2-year contract from the HK telco (Hutchison Telecom) reselling the iPhone 2.0 for Apple. The 24-month plans in Hong Kong costs ~$64/month for the unlimited data plus minutes while a lowest plan only costs ~$24 a month but will have an initial fee of ~$377.
That means, a fully contract free iPhone 3G 8GB in HK will set you back (24 * $24 + $377) a total of $953 or roughly Php43,000.
In any case, you can actually fly to HK overnight and spend less than Php50k for the entire trip with an iPhone 3G in tow.