Smartphone retailers in the US are reportedly slashing the price of the current Apple iPhone 4 in an attempt to clear stocks ahead of the imminently expected iPhone 5 release date.

Tech blog Engadget has reported that “a pair of trusty tipsters” has revealed that both Radio Shack and Target in the US are to cut the iPhone 4 pricing in anticipation of the iPhone 5 arrival.

Cutting $30 from the price of the Apple blowers, leaked store signage has revealed the 16GB iPhone 4 is to drop to $169.99 (£104.59) whilst the 32GB offering is to be reduced to just $269.99 (£166.11). The prices, which will see the handsets come on a two-year AT&T contract have also suggested the 8GB iPhone 3GS is to be available for just $19.99.

Whilst most recent iPhone 5 rumours have suggested the mooted handset is to land in September with a 1GHz dual-core processor and an 8-megapixel camera a report yesterday suggested the iPhone 5 release date will actually be in October. No iPhone 4 price drops have currently been reported for the UK.

Apple iPhone 5 video: Rumour update

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Via: Engadget