Finally, ringtones for your iPhone?

This just in from the NY Post. On September 5th, Apple is supposedly going to announce custom ringtones for the iPhone. Users can buy a song from the iTunes music store and select a portion of it as the ringtone. In stark contrast, offerings from rival providers like Sprint or T-Mobile are currently pre-determined.

The ringtone industry is certainly a lucrative one; worldwide sales for 2006 was estimated to be right around the $3.6 billion mark. By entering the market with a relatively unique service, Apple is certainly forcing a lot of traditional ringtone companies to either innovate or die trying. We’ll keep you posted on the latest happenings.

Via [AppleInsider]