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1.
When the folks next door are screaming bloody murder at each other, they're using the "ghetto phone," that is, they are being so loud everyone in the neighborhood (hood, ghetto) can hear them.
"Get off the ghetto phone and talk nice to me, I ain't done nuthin' that bad that you gotta get all over my shit."
by paulpaxman August 21, 2009
 
2.
Also called G phone. The available "free" phone that you get when signing up for cellular service-cause you can't afford the cool full featured model (or you lost it and can't pay full price for a new one). The G-phone model usually lacks style, functionality, and reception--is thick, has an antenna and an old school earpiece.
"Man, I lost my blackberry, so now I gotta use this ghetto phone until I can get an upgrade."

"Can you hear me now?"
by busybusybusybusy May 24, 2009