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The rumors point to a low cost iphone coming in the fall. Please note that you can get a free iPhone 4 by signing a new 2 year contract with Verizon, ATT and Sprint.
 
Maybe the iPhone 5S will be the cheaper phone this fall, with the iPhone 6 the larger phone. With the delays Apple is facing, no sense waiting to come out with the iPhone 6 in 2014.
 
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