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Reports: iPhone 5 is CDMA/GSM World Phone, Cheap 8GB iPhone 4 on Way

It's raining iPhones, hallelujah! In addition to Best Buy and other big chain stores giving away the iPhone 3GS like they're going out of style, rumors are flying about a cheap iPhone 4 coming to market. According to Reuters, Apple is set to launch an 8GB iPhone 4 sometime this fall, around the time the iPhone 5 is supposed hit stores.

Apple reps have confirmed that an unnamed Korean company is currently manufacturing the device's flash drive. Similar to the $50 iPhone 3G, Apple is hoping to appeal to low or mid-level smartphone users looking for a premium smartphone experience on a budget. While no price point has been set for the nascent bargain phone, it's expected that Apple is hoping to keep it under $200 to give consumers a cost-effective alternative to the iPhone 5 which will undoubtedly cost a pretty penny. 

In other iPhone news, LTE is probably not in the iPhone 5's future. Sources have said that the iPhone will have dual radios that support multiple networks including CDMA and GSM. Since Verizon runs CDMA and AT&T uses GSM, it makes sense to make one phone that can work on both network instead of multiple devices. This is also good news for jetsetters who can breathe easy knowing that their phones will work in Brazil or Japan with minimal hiccups. However nothing is set in stone. Those with dreams of LTE dancing in their heads will have to wait and see what AT&T and Verizon have up their sleeves.

via Reuters, TechCrunch