In a clear sign that Apple is set to launch a new iPhone the price of the iPhone 4 has been dropped to $150.In a clear sign that Apple is set to launch a new iPhone the price of the iPhone 4 has been dropped to $150.

In the US mass retailers appear to dumping current stock to make way for a new phone withTarget poised to drop the price of a current model iPhone by at least $30.

Verizon is set to drop their price on the Apple product down to $150 and $250 for the 16GB and 32GB iPhone 4 models.

Engadget said all of the discounts would start July 31. Anyone hoping to upgrade to an iPhone 4 from an iPhone 3GS would get a $100 discount with a trade-in.

No expiry date is listed and suggests these may be the store’s final pricing on these phones before they’re replaced.

They said that Apple seldom encourages clearance sales for iPhones near the end of their lifecycles outside of refurbished models. With the iPhone 4 and 8GB iPhone 3GS, though, Apple has shown more flexibility on pricing over the course of their entire lifecycle, allowing retailers to offer short-run sales and making its own permanent price cut on the 3GS to bring it down to $49.

This year is the first in which Apple didn’t have a new iPhone shipping in June or July and may have made it more vulnerable than usual to competition based on price.