Is iPhone 5 an upgrade or requires new contract

M

magpie_complex

New member
I know. The Verizon iPhone 4 isn't out yet, but before I pay the big bucks for the 3G iPhone 4, I'd like to know if the 4G iPhone 5 due out in the summer is an upgrade (via firmware?) or will require a brand new contract.
 
apple release new iphones every july, but they announce it at the word wide developers conference mid june. so if you havent bought the iphone 4 i would hold off until the summer release.
 
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