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How cheap will the cheapest iPhone 5 be?

What is the expected price of the cheapest iPhone 5 that is going to be released? Will there be a $100 or less iPhone sold?

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If iPhone 5 is on schedule than it will most likely be released late June, early July. However, there is a rumor currently going on the that the iPhone 5 and iPad 2 release dates have slipped.

The delay of a few months is blamed on production and sourcing issues. Some have been repeating the rumors, while others receive what smell like off-the-record Apple denials.

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