Remember the mini cloud-based iPhone rumors? And now Apple released iCloud? Well, many sources have put two and two together and found that an iPhone codenamed "iCloud iPhone" will be released, possibly on September 7th with the iPhone 5 and new iPods.A huge portion of the cost of a smartphone is the onboard memory. So, Apple is planning to take away this onboard memory and instead rely on streaming from iCloud, therefore reducing the phone's cost by as much as $200-$250; this iCloud iPhone will be free with a two-year contract and only $400 without a contract.
