"Apple iPhone Signals Death of Ringtone Industry":

...Let me be the first to say that the iPhone is a huge problem for the ringtone industry. In many ways it makes the ringtone industry completely obsolete. It's an iPod so any song that you own can be used as a Ringtone. Don't want to pay $1.99 for a low-quality re-sampling of a song that you already own to be used as your ringtone? Great, you don't have to. What about wallpapers? Well, any photo on the iPhone can be used as a wallpaper, so just download one from the iPhone's built-in web browser and you're golden. Goodbye $9.99 per month ringtone subscription fees!

(Via Clicked.)