NJ Teen Unlocks IPhone From AT&T Network

This is, unfortunately, a hardware unlock, which means you have to break out the soldering iron, and break INTO your iPhone - but it can be done. Yesterday, when we first noted this story, this enterprising teen posted the step-by-step instructions to his blog, live-blogging as he completed the unlocking of a brand new iPhone.

George Hotz, 17, confirmed Friday that he had unlocked an iPhone and was using it on T-Mobile's network, the only major U.S. carrier apart from AT&T that is compatible with the iPhone's cellular technology.

The hack, which Hotz posted Thursday to his blog, is complicated and requires skill with both soldering and software. It takes about two hours to perform. Since the details are public, it seems likely that a small industry may spring up to buy U.S. iPhones, unlock them and send them overseas.

"That's exactly, like, what I don't want," Hotz said. "I don't want people making money off this."

Remember all those who tried to flip iPhones when they first came out?  Since Europe is still iPhone-less, could we see a new wave of eBay postings?  What do you readers think?