Apple 4G LTE iPhone Still a Year Off

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Scott Moritz

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Jun 22, 2011, 9:55:06 AM6/22/11

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Scott Moritz

06/22/11 - 09:34 AM EDT

NEW YORK (TheStreet) -- This just in, again: Apple's(AAPL ) upcoming iPhone really isn't the superphone people were hoping for.

Bloomberg became the latest outlet to confirm the news that the next iPhone is a minor upgrade, a story first broken here in February.

Unlike the muscled-up 4G LTE Google Android phones hitting shelves this summer, the next iPhone will arrive later with only modest upgrades, including a dual-core processor and a better camera, Bloomberg said late Tuesday.

Not only does this reiterate earlier reports about the delayed iPhone and its modest improvements, it gives Apple investors one less reason to hope that Apple can continue to fuel its market share gains and sales growth momentum.