A new report from the Wall Street Journal indicates that the new iPhone to be announced today will not support LTE or WiMAX 4G technology. Here's a quote from the WSJ regarding the issue,

According to people familiar with the company’s plans, the hotly anticipated device won’t operate on long-term evolution or WiMAX fourth-generation networks. Those wireless networks promise speedier downloading to mobile devices of episodes of television programs, as well as cute baby photos.

The people said the device will work on 3G networks, which are broadly in use today and are the standard for the current iPhone 4. AT&T says its HSPA+ network has 4G-like speeds.

This would be a disappointing surprise if it turns out to be true. Unfortunately, major news corps like the WSJ tend to be outlets for controlled leaks for companies like Apple, so this rumor is very plausible.

Luckily, there are some happy rumors floating around as well. Supposedly, October 14th may be the actual launch date of the new iPhone, which is not too far off at all. Also, there are rumors of the new pricing structure for the different iPhone variants. Here's a quote from the macrumors.com article,

Meanwhile, 9to5Mac shares a couple of "uncorroborated" tips it has received claiming that the next iPhone will launch on October 14th and that the iPhone 4S could come in at $99/$199/$299 price points for 16 GB/32 GB/64 GB models. Such a pricing structure would likely mean that the 8 GB iPhone 4 reportedly set for introduction would be priced at $49 with an iPhone 3GS potentially available for free. All of the listed prices would be for on-contract devices.

We will know for sure later today which of these rumors turn out to be accurate.

Source: AppleForums.net via MacRumors and 9to5Mac and WSJ