It's been confirmed the iPhone 4 is launching June 24th on AT&T. Available in both black and white, the 16GB iPhone 4 will cost $199 while the 32GB model will go for $299. Both prices reflect 2-year contract prices with AT&T. The iPhone 3GS will replace the iPhone 3G. Unfortunately the storage capacity will drop to 8GB, but then again so will the price. It will go for $99 on contract.