Is the iPhone 5 coming in September?

Discounts on the iPhone 4 and iPhone 3GS are rumored to be coming at Target and Radio Shack

One thing that usually happens before a new iPhone hits the streets is a price reduction. For this reason, the rumor mill is going crazy after a couple of posts this weekend.

The first post came from PhoneArena where the site is stating that Target is expected to reduce the price of the iPhone 4 16GB to $149.99, and the iPhone 4 32GB to $249.99 for Verizon's model--the AT&T model will remain at $299.99. The second post came from PocketNow who is stating that Radio Shack is offering the iPhone 4 for $30 off.

If you're wondering what the iPhone 4 price drop means to the 3GS, according to the articles, the 3GS 8GB will drop to $19.99 at Radio Shack and Target. There's also another rumor circling that states that Target will give you $100 off the price of an iPhone 4 if you bring in a 3GS--crazy.

So, is an iPhone 5 on the way or are the retailers just getting more aggressive with their iPhone pricing? Regardless, there are some bargains to be had if you haven't gone over to the land of Apple yet.