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I had that problem with my new Iphone 4. I reseted the network settings and then used the phone until it was forced to shut down, once that screen is showing charge up your iPhone until 100%. You could try restoring your phone if this does not work.
 
I wasn't having this problem until a got Trapster, and then it would drain the battery 50% overnight. I deleted it this morning, have been using my phone a lot today and after 6 and 1/2 hours, itnis only down to 89% so far. I am going to fully charge it before I go to bed and then unplug it and see if this was the cause.

Yup it's Location Services. I shut them off last night and deletrd Trapster just to be safe and my battery only drained 3% last night. Huge difference. Just sucks that I'll have to keep turning it on/off just to conserve the battery but at least I've isolated the cause. Had no idea that it would eat up that much battery power.
 
Sudden extreme loss of battery life in iPhone 4

Often applications fail proper installation and a process can hang, causuing repetitive instruction calls (even in standby). With such a process continuously running on your iPhone, the battery drain can be significant - up to 25% or more in an hour. Here are a few solutions that have worked for me (it's happened to me on three separate handsets of the iPhone):

1) Do a hard reset - Hold the home and sleep buttons down together for approximately 10 seconds until the phone turns off. Wait a few second, then repeat to turn it back on. THIS WILL NOT ERASE any of your data or lose any of your setting, rather just a flash memory reset.

2) If that does not solve the problem, follow this procedure:

1. Under Settings, go to Mail/Contacts/Calendar - tap the name of the
Exchange account. You will see 3 switches. Turn them off (repeat for
each account), then back out of Settings. Do not turn off PUSH; only turn
off the 3 switches. You may receive warning messages - go ahead and
accept these - this data will be restored from your accounts once the
switches are turned back on.

2. Open the apps one at a time, first Mail, then Contacts, then Calendar
so these apps apply the changes.

3. Hold the home button for a few seconds and close all multitasking apps,

4. Turn off your phone, wait a few seconds, then turn it back on,

5. Go back into Settings and turn the 3 switches back on.

Usually the hard reset will solve the problem on its own, but the mail reset may be necessary in cases where the mail application is causing the process error.

Good luck!
 
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