Is iPhone 5 release date near? Verizon to lower iPhone 4 price

New rumors say a leaked Verizon Wireless document gives clues to the much-anticipated iPhone 5 release date. Reports suggest a rumored iPhone 4 price-drop from the major wireless carrier will lead up to the iPhone 5.

According to Pop Herald, a leaked document shows the iPhone 4 with a price tag of $150 on a 2-year contract commitment. This new price is around $50 less than the current price of Verizon iPhone 4. Some are speculating the lower price may be an indication the iPhone 5 release date is coming.

The iPhone 5 specs rumors show the Apple smartphone will include an 8MP camera, dual-core processor, and iOS 5. The expected iPhone 5 release date is sometime in late August or September (according to rumors), but since Apple has yet to confirm they are working on the iPhone 5, that time frame seems unlikely.

Is the rumored iPhone 4 price drop related to the next generation Apple iPhone release? Or is this rumor only wishful thinking spawned from the minds of hopeful Appleites?