Rumor: iPhone price cuts coming Sunday?

While rumors continues to hit the Internet about Apple's plans to launch the next version of the iPhone, the 2010 and 2009 versions of its popular smartphone could have their price cut on Sunday. Reports from two separate web sites seem to indicate that Target and Radio Shack will have price cuts on both the iPhone 4 and the iPhone 3GS.

Phone Arena reports via unnamed sources that Target will reduce the price of the AT&T iPhone 3GS to just $19.99. It also claims that the 16 GB version of AT&T's and Verizon's iPhone 4 will have its price cut at that retailer to $149.99. It also claims that the 32 GB version of Verizon's iPhone 4 will have its price cut down to $249.99. All of these prices are if you get a two year contract with the respective wireless carriers. The article has also been updated claiming that owners of the iPhone 3GS can trade in their device for an iPhone 4 and get an additional $100 off.

In addition, Engadget reports via its own unnamed sources that RadioShack is also prepping its own iPhone price cuts but they differ a bit from the reports of the Target price cuts. While it agrees that the iPhone 3GS will be sold for $19.99 on Sunday, it says that the 16 GB version of the AT&T iPhone 4 will only go down to $169.99 and the 32 GB will be reduced down to $269.99. In any, case if either one or both of these reports turn out to be true, it's likely that Apple wants to clear the decks of its older product before the iPhone 5 is released.

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