Rumour: American carrier Sprint scores exclusive iPhone 5 deal worth $20 billion, iPhone 4S to hit shelves on October 14th

According to the Wall Street Journal, American wireless carrier Sprint has agreed to purchase over $20 billion worth of iPhones (around 30 million devices) from Apple over the next four years.

The purported deal would mean that Sprint wouldn't break even on the transaction until some time in 2014, making the deal a risky punt, to say the least.

Furthermore, a source close to Boy Genius Report has told the website that Sprint will get its hands exclusively on the iPhone 5, as a 4G WiMAX device.

Rival telcos AT&T and Verizon will instead launch the heavily rumoured iPhone 4S in the coming weeks, before releasing the iPhone 5 in the first few months of next year.

If the above turns out to be true, the iPhone 4S - which may or may not be unveiled today - will include a low voltage A5 processor, updated front- and rear-facing cameras for FaceTime HD and 1080p video recording, and NFC support.

The back of the device will be made from a metal or a "premium" plastic of some sort.

According to Boy Genius Report's source, the iPhone 5, on the other hand, will pack a faster CPU, a larger 4-inch display, 1GB of RAM, 32GB of storage, and a dedicated Assistant button (for initiating voice commands).

Another last-minute rumour from website 9to5Mac suggests that Apple will release its iPhone 4S device on October 14th, with retail stores staying open until midnight to meet demand.

Finally, the website is reporting that a new 64GB iPhone 4S will replace the current 32GB iPhone 4, meaning it will retail for $299.

Similarly, the new 32GB iPhone 4S will replace the current 16GB model and will cost $199. A $99 16GB iPhone 4S and a $49 8GB iPhone 4 are also suggested.