New geo-aware applications like Pelago have prompted VC firm Kleiner Perkins and others to bet heavily on location-based services for the iPhone.

Long rumored to have “real” GPS capabilities (as opposed to using cell phone triangulation), the next generation of the iPhone has many crossing their fingers for much more accurate pinpointing.

This is a prediction that the new Apple iPhone (which will presumably be announced at the WWDC on June 9th) will include GPS (i.e. satellite-based) functionality for geo-positioning.

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