As we’ve known for several months now, Apple is expected to unveil the iPhone 5 this Fall. More recently, we’ve heard rumors of a late September pre-order opening, which places the announcement earlier in the month.

With a new iPhone set to be unveiled in a matter of weeks, expect its predecessor to receive some major discounting. Originally offered for $199, we’ve seen the 16GB iPhone 4 go for as low as $147.

Now we are hearing that multiple Canadian carriers are offering the device for just $99…

iPhoneinCanada is reporting that Virgin Mobile, along with Bell and Telus, have dropped the price of the iPhone 4 to under $100 bucks. This marks the lowest price we’ve seen to date.

It appears that only the 16GB model has received the price drop, as the 32G is still selling for $269. And you better make sure you won’t want to upgrade anytime soon, since the $99 price tag locks you into a 3 year contract.

I’m wondering how long it will be before other carriers follow suit. Even with an impending iPhone 5 announcement, the iPhone 4 at $100 dollars is a slick deal. Especially compared to other handsets that carriers are hocking for that price.

Would you buy an iPhone 4 on contract for $100?