Thinking about buying an iPhone?

DON’T BUY AN IPHONE!!!

Yet.

Apple is almost sure to release a new iPhone (or two) within the next 60 days. There are some excellent rumors floating around right now that could mean some great choices for consumers:

1. It is widely expected that the iPhone 5 is coming to town. We don’t know what it will looks like, or what new features it will have, but there are two theories. One is that it will be a marginal update similar to the update from 3G to 3GS (call it 4S) where all they do is up the processor and improve the camera. The other theory calls for a redesigned body shape and other goodies.
2. The Wall Street Journal – who tends to have solid sources – reported today that the iPhone 5 is coming to Sprint. This is cool because not only does it give consumers another choice, but Sprint has had a tendency to be more generous with their data plans than what AT&T and Verizon are currently offering.
3. Reuters – who can be hit or miss – is saying that Apple may offer a cheaper iPhone 4 model, with only 8 GBs of storage. To me, this is a fascinating move, and could be evidence of Apple living up to Tim Cooks promise that the iPhone would not be “just for the rich“. This could be a fabulous phone at a very reasonable price.

The moral of the story is, now is a terrible time to buy a new iPhone. Even if it’s free.