"It's business as usual for us. We knew we only had a two year deal so we knew it was coming," an O2 spokesperson told Stuff.tv.
"We've sold over a million iPhones, so we're confident – there are no plans for price cuts".
Of course O2 may have no plans currently but it could have its hand pushed by the two new players in the game.
Both Orange and Vodafone told us separately that although pricing had not been confirmed, they would be making their tariffs "as competitive as possible" for customers, with Vodafone adding that existing customers would be getting priority at launch.