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No, it's not NextG compatible. you'll be able to use GSM/GPRS & 3g on the old 2100Mhz range (in captial/major cities- "3Telstra" network). Althought it does say it supports 850Mhz, it's not NextG compatible.
Note it doesn't support the 900Mhz range used by Vodafone/Optus for their newer 3G network.
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