iPhone 4 Price Drops. So What? Give Me an iPhone 5

More clues are piling up in regards to the release date of Apple's highly anticipated iPhone 5 set to hit the markets this fall. The latest news speculate that Target will be offering price drops on the iPhone 4 for five bucks if you trade in an old 3GS model. Customers can also purchase a 16GB iPhone 4 for $170 with a two year contract or go to Radio shack and get an iPhone 4 32GB model for $270.

The savings will be $30-$50 off the original price as the stores are clearing space for Apple's next generation smartphone. The retail stores can expect boost in sales for customers looking to pick up a cheapiPhone. But the clearance sale may not draw out everyone. According to a survey from analyst Gene Munster, a large percentage of consumers are holding out until the iPhone 5 release.

Verizon customers prefer to skip the iPhone 4 and save their cash for a rumored, radically new designed phone with heavy duty processing and larger display. Based on a survey of 216 mobile phone users, 74 percent are waiting to make iPhone 5 their first iPhone purchase. 94 percent of current iPhone users plan to buy another iPhone, preferably the fifth generation.

"This pent up demand for the next iPhone at Verizon may drive numbers higher than the 3.8 (million) units we are modeling Apple to sell through Verizon in the Sept. quarter...And our overall iPhone unit estimate of 22.0m in the Sept. quarter may prove to be conservative," said Munster.

Apple's remarkable work on marketing and brand building has bore fruit, producing an overwhelming high number of loyal customers. The rumors surrounding the iPhone 5 did not confirm any specs, yet people appear to be lining up to buy a product that has unknown features.

Bits and pieces of clues from leaked photos of silicone cases, prototypes, and case layouts have given fans a glimpse of a possible full iPhone 5 device. In comparing a mass produced iPhone 5 protective case in China with a current iPhone 4 case, it reveals that the new smartphone's dimensions are flattened out. The iPhone 5 case carries a taller and wider body while maintaining a slimmer profile than the iPhone 4.

Additional evidence from a leaked image shows that the iPhone 5 case will have a wider edge-to-edge touchscreen display, possibly 4 inches. The Home Button Area also shows a wider cutout, possibly to allow room for a multisensory touchpad.

In addition to Target and RadioShack's current clearance, rumored tech company called Pegatron has been piling up 15 million Apple iPhone 5 units in preparation to begin shipping as soon as September according to DigiTimes.