AT&T customers interested in the HTC First can now grab the Facebook Phone for just 99 cents, as the smartphone is already getting price cuts.

Only one month after its debut, the HTC First drops its previous $99 price tag to just $0.99 on a two-year contract with AT&T. This means that potential buyers intrigued by the new Facebook Home on the HTC First can now test it out at a real bargain.

The HTC First is the first smartphone to come with Facebook Home pre-installed. As one would expect, both HTC and AT&T denied that the price cut had anything to do with low demand or a disappointing response to Facebook Home. Instead, the two companies claim the move is simply a promotional effort.

"Promotional pricing is common in the mobile industry," explained an HTC spokeswoman, as cited by PCMag. "We do price promotions like this all the time," added AT&T, which offers the HTC First exclusively.

Indeed, as TechCrunch points out, AT&T is also currently offering a deal on the new HTC One and Samsung Galaxy S4 flagship smartphones. The HTC First promotion, however, seems to be for a limited time only, so interested shoppers should get it while they can.

"For competitive reasons, we can't speculate on timing of how long the promotion will last," PCMag futher quotes AT&T.

Meanwhile, Facebook representatives applaud AT&T's initiative and believe the promotion is a good thing for the Facebook phone. The social networking company went to great lengths to promote its Facebook Home, which puts the social network front and center on smartphone screens.

The recently released Facebook Home launcher hit Google Play last month, and is currently available as a free download for the HTC One X, HTC One X+, Samsung Galaxy S3 and Samsung Galaxy Note 2. Home saw more than 500,000 downloads by the end of April, but users did not seem too impressed.

The new price tag, however, is bound to attract more AT&T customers curious about the Facebook phone. Getting a smartphone for just 99 cents is a pretty good deal, especially if it brings something new to the table. Check out the offer here.