This news will hold the Latinos in good cheer as the iPhone is slated to hit stores by the end of this month. Mexico’s America Movil is all set to launch the iPhone in more than 10 countries in this region.

According to the Apple’s press release the device will be made available in Argentina, Chile, Colombia, Ecuador, El Salvador, Guatemala, Honduras, Paraguay, Peru and Uruguay on Aug. 22.

The company announced that it would be offering the 8 GB iPhone for 773 pesos( $75) and the 16 GB model for 1,877 pesos ($182). It’s offering different monthly plans to suit the customer’s preferences.

Telefonica, the Spain based company will be launching the iPhone in Argentina, Chile, Colombia, Ecuador, El Salvador, Guatemala, Peru and Uruguay.

Movil’s competitive pricing will spur Telefonica to follow suit and try to garner a bigger share in burgeoning market of 300 million users.

However, due to the high costs the customers will most likely be from the high income bracket with large disposable incomes.