UPDATE: Apple today unveiled the new iPhone 4 and its price details. The iPhone 4 will come in a 16GB model for $199 and a 32GB model for $299 in white and black. The iPhone 3G will no longer be manufactured and the iPhone 3GS will now sell for $99. The new phone 4 will launch on June 24th to the United States, United Kingdom, France, Germany, and Japan with pre-orders starting on June 15th.

Piper Jaffray analyst Gene Munster today in a research note predicted the price of Apple’s new iPhone 4G / HD. He suggests that Apple will follow the 3GS price pattern for the new iPhone 4G.

Apple will introduce a 32GB version of the so-called iPhone 4G at $199, and a 64GB version at $299, Piper Jaffray analyst Gene Munster predicted in a research note published Wednesday.

The 16 GB iPhone 3GS is currently available for $199 and 32 GB is priced at $299. Although Walmart is already offering iPhone 3GS 16 GB model at $97 with a two year contract right before iPhone 4G launch.

The rumor mill is reporting an early June release date for the fourth-gen iPhone.

Would you be happy if Apple introduces the new iPhone 4G / HD in 32GB and 64GB models? Will the “one more thing” be Verizon iPhone 4G? Let us know your thoughts in the comments.

Walmart has reduced the price of iPhone 3GS down to $97 with a two year contract. Previously the 3GS was sold for $197.

This week we reported that Apple might discontinue the iPhone 3G model as rumors suggest that 8GB version is no longer being shipped to AT&T stores. We also highlighted Morgan Stanley and Alphawise survey which suggested that after the introduction of iPhone 4G, price of the 3GS will be reduced to $99.

Don’t want to wait for iPhone 4G? Get the $97 iPhone 3GS here

I have to say I had my doubts when I saw the pictures of the “iPhone 4G” being passed around the web in the last 24 hours. Firstly the image had popped up on Twitter a while back from a different source : [twitpic]

But also it was simply such an awful overall design that it could only, at best, be a prototype. Remember those pre-production iPad prototype pictures that got leaked before the official launch? They were ugly too!

I guess it could possibly have been a prototype Steve was carrying around personally. But I am not sure he drinks in public in bars in San Jose these days.

Knowing how secretive Apple are the chances of an employee dropping one in a bar seemed ridiculous. If you remember the stories of Apple employes working on new devices having to keep their equipment covered in their locked rooms when not in use. And having to put a red light on outside their room to warn other employees of the fact that secret equipment could be on display when they were actually working with hardware prototypes. Well, that does make the bar story sound a little far fetched!

Finally, living in Asia in the heart of counterfeit land there are so many copies being pumped out of factories here it seemed more likely that this was some Chinese copy, or unofficial iPhone 4G for the Asian market.

It turns out the iPhone 4G or iPhone HD we’ve been staring at trying to decide if we love or hate is actually a Japanese iPhone copy.

The original web page that hit on this information is in Spanish. So here is a google translation link : [translate.google.com]

Got to laugh at the translation :

apparently found in a bar in San Jose (California), in a pillow case for an iPhone 3G

But you get the gist from the bottom of the page. We would say case closed.

Are you disappointed? Or relieved? Did this look like an iPhone from Apple to you? Let us know in the comments.

Apple might be releasing a new iPhone 4G  / HD this summer.  It will probably be released on June 22nd during Apple’s WWDC 2010. The only real surprises left are the specs, appearance, and pricing of the new unit. Now, thanks to something lost and found on the floor of a bar, we may have our first look at the forthcoming iPhone.

Engadget is running pictures and a story of an alleged Apple device found inside of an iPhone 3G case on the floor of a San Jose bar. The device is encased in the familiar black and chrome trim with etched Apple and lettering on the back. While it contains some of the familiar iPhone elements, including a home button and small rectangular ear piece, it appears to be slightly taller, thicker, and more angular. Some of the physical button set ups are also different from current iPhone models. According to the report the device has a forward facing camera, 80GB of storage, and was running an unfamiliar version of the iPhone OS.

Now as the article points out, this isn’t necessarily the gospel version of the iPhone HD. It could very well be the production version, and if it is, Apple is taking the iPhone in a decidedly new direction. Otherwise this might just be a prototype that made an unintended appearance. I think most people have the impression that each new iPhone design comes to Steve Jobs in a dream, he jots it down on paper, and a new product is born. Quite to the contrary. Each new iteration of the iPhone (or any electronic device) goes through extensive planning on paper and prototyping. At any one time there may be five or six prototypes of a device floating around, one which may eventually become the production version, or each incorporating parts that combine to make the final cut. This may not even be a prototype of the next iPhone but instead a prototype of something two or three years down the road.

If it is the production version of the iPhone 4G / HD, it does confirm one of the main rumors floating around. The forward facing camera has been on the wishlist of many an iPhone pundit and fan and this phone seems to make it a reality. It would be really interesting to get a chance to crack the device open and see what’s inside. Would we find an A4 chip in there? Would we find the iPad innards shrunk down into the new iPhone as some have suggested will be the case? Despite the pedigree and intention of this found technology, one thing is for certain; it will only fuel the rumor and speculation machine. With the iPad out, the iPhone HD will be the latest hot new device of 2010.

Do you have a wishlist for the next iPhone? What makes video calls and video chat so compelling for you? Would it be a killer app that makes you switch from your Droid or Nexus One to the iPhone? Would anything make you make that switch? Leave us your thoughts in the comments.