Verizon iPhone 5: Cheapest LTE Phone On Big Red?

Earlier last week, Apple announced the new iPad 3. In addition to a high-resolution “Retina Display” and powerful GPU, the next-generation Apple tablet boasted 4G LTE connectivity.

Verizon iPhone 5 with LTE may have a price advantage

Now despite adding a vast range of upgrades to the new iPad, the tablet still sits at the same price point. This of course is Apple tradition.

Now with the iPad 3 announced, the next iOS device in line for an upgrade is obviously the iPhone. With rumors suggesting the iPhone 5 may launch either this summer or fall (following iPhone 4S schedule), nothing much is know at this time about the device. However what can practically be confirmed is that it will be LTE ready just like its sibling the iPad 3.

Given that the base iPhone model starts at $199 with a two-year contract, it is safe assume that an LTE iPhone 5 16GB will start at the same price. And with LTE phones on Verizon launching at $299 without fail, an LTE iPhone 5 will be $100 less than its Android rivals.

While no firm release date for the Verizon iPhone 5 has been announced yet, its major rivals will be the Samsung Galaxy S3 and HTC One X.