The teenage hacker who managed to unlock the iPhone so that it can be used with cellular networks other than AT&T will be trading his reworked gadget for a new car.
George Hotz, of Glen Rock, N.J., said he had reached the deal with CertiCell, a Louisville, Ky.-based mobile phone repair company.
Hotz posted on his blog that he traded his modified iPhone for "a sweet Nissan 350Z and 3 8GB iPhones."
"This has been a great end to a great summer," Hotz wrote.
The 17-year-old Hotz said he will be sending the three new iPhones to the three online collaborators who helped him divorce Apple Inc's popular product from AT&T's network. The job took 500 hours, or about 8 hours a day since the iPhone's June 29 launch.
Hotz made the deal with Terry Daidone, co-founder of CertiCell, who also promised the teen a paid consulting job.
"We do not have any plans on the table right now to commercialize Mr. Hotz' discovery," Daidone said in a statement.
Check out Hotz' blog and his instructions on modifying the iPhone here.