Apple Bringing $350, No Contract iPhone Along With iPhone 5?

Anyone who is a remote tech-head knows that the rumors of a new iPhone 5 have been churning fast and furiously.  While there has been no specific confirmation of this phone from Apple, most people know it’s coming but now there may be a second new iPhone to cause tongues to wag.

There has been plenty of speculation about just what the next iPhone is going to be, whether it will be a complete resdesign like an iPhone 5 or merely a slight upgrade which would be called something along the lines of the 4GS it is expected that this particular phone will be coming out, or at least be officially announced at the end of the summer and more than likely in early September.

But according to a source that Boy Genius Report trusts implicitly, there may be yet another new iPhone hitting the market and while this particular phone won’t have a ton of new bells and whistles, what it will offer is a smaller pricetag and no contract to get involved with.  In fact, this new phone will actually be a step behind the current iPhone 4, but you can hardly expect it to be the newest and best and if it is the iPhone 3GS as BGR speculates, then you will still be getting a very nice piece of technology for a lower price and the ability to actually use it as a prepaid phone, cutting down on your monthly phone bill as well.

Apple sources have also apparently let it slip that they will still be producing the usual and reliable iPhone 4 and when you couple all that into the fact that Apple just won a very big ruling that could literally cripple their main competition, the end of the summer could be one of the happiest times in Apple’s history.  If not happy, as Steve Jobs is a notorious perfectionist, it will almost certainly be one of the most successful periods in the company’s history as it pertains to the iPhone.  Fans of Google on the other hand have got to be wondering is their loyalty hasn’t been a bit misplaced.