So all the speculations have long been over. iPhone has been revealed, unveiled, whatever term you may want to use. It would be remembered that Steve Jobs himself highlighted its rather amazing features at this year's Macworld Conference and Expo.

So you think you know everything about the product? Well, think again. Wall Street Journal is now reporting that Apple, most especially the outspoken CEO, forced Cingular to relinquish control of the development process therefore winning many concessions from the biggest mobile phone carrier in the U.S.

The influential newspaper added as well that one of these concessions includes a portion of the monthly revenues from subscribers. Furthermore, Wall Street Journal mentioned as well that Cingular agreed to not put its logo on the phone.

Not only that, it was also reported that the carrier abandoned its whim for the phone to carry its software for Web Surfing as well as for ringtones and other services. The publication continued,

Top Cingular executives were willing to cede control to Mr. Jobs and tolerate his digs at cellphone carriers, all for the privilege of being the exclusive U.S. provider of one of the most highly anticipated consumer electronics devices in years -- and to deny rivals a chance to do the same.

It seems that doing business with Jobs has its price. There's a big chance that the iPhone is going to be a multi-million hit once it comes out - and Cingular is probably banking on this to happen.