Hi Syed. I, as a matter of fact, own an 8 GB Iphone 4. As for your question about Apple selling it at a lower price compared to the 16 GB version, I was able to buy mine for $55 with a three year contract with MTS. If you want to pay less for your iPhone, a contract with a wireless company is the way to go as opposed to buying it flat out from an Apple store. Just my opinion.
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