Here’s the expected effect of the iPhone 4S announcement: dropped prices for the iPhone 4. For people who don’t want the extra horsepower or better cam on the iPhone 4S, this is the perfect time to buy a still-awesome iPhone 4 on the cheap. Verizon has confirmed that they’re clearing out their existing iPhone 4 stock, cutting the prices of the 16GB and 32GB iPhone 4 models down to $150 and $200 on a contract.
Verizon also began taking pre-orders for the just-announced 8GB iPhone 4 that targets budget smartphone shoppers. The 8GB iPhone 4 costs $99 with a contract, and will be available in black or white “by October 13th.” Like the iPhone 4S, the 8GB iPhone 4 will come preinstalled with iOS 5.