The wireless service provider that prides itself in “raising the bar” has shrunken down for their latest cell phone offering. Cingular has just announced the availability of the Pantech C300 ultracompact clamshell, a phone that is only 2.72 x 1.69 x 0.76 inches in its closed form. Unfortunately, for those you who use monthly plans, you’re out of luck, because the fun orange goop of a mascot is only going to offer this phone to GoPhone prepaid users.

Outside of it minute footprint, there aren’t too many features that will wet your pants. With a mediocre VGA camera, your snapshots are going to be webcam quality at best, although they did manage to throw zoom and flash into the mix. Other key features include MP3 ring tones (yah! Goodbye polyphonic!), SMS/MMS/IM client, and the ability to do emails.

“The launch of the C300 in the U.S. represents a huge step forward in the development of Pantech as a global brand,” said President and CEO Sung Kyu Lee. GoPhone VP of marketing agrees, “The introduction of the Pantech C300 handset will make Cingular’s GoPhone lineup even hotter than it is today.”