Is iPhone 5 an upgrade or requires new contract

[jimmi3]

I know. The Verizon iPhone 4 isn't out yet, but before I pay the big bucks for the 3G iPhone 4, I'd like to know if the 4G iPhone 5 due out in the summer is an upgrade (via firmware?) or will require a brand new contract.

 

[craigfoot]

It will be a model of iPhone, not an upgrade.

 

[Gregoris]

apple release new iphones every july, but they announce it at the word wide developers conference mid june. so if you havent bought the iphone 4 i would hold off until the summer release.