According to AppleInsider, Apple maybe working on a new software update for iPhone 4, iPhone 3GS, 3G and iPod touch to fix the dreaded signal loss bug which has been plaguing users since the iPhone 4 launch, earlier this week. Apparently, there was some discussion going on about iOS 4.0.1 update in Apple Technical Support Forums which was later removed for unknown reasons. If this is true, this would be the fastest update cycle that an Apple OS has ever seen.

Readers report that Apple’s tech support forums originally confirmed that a iOS 4.0.1 software fix addressing the issue would ship early next week (as early as Monday), before the comments were subsequently taken down along with all the other related discussion about the matter.

The fix is expected to address a issue in iOS 4 related to radio frequency calibration of the baseband. Readers who saw the original forum discussions say that the issue is believed to occur when switching frequencies; because the lag is allegedly not calibrated correctly, it results in the device reporting “no service” rather than switching to the frequency with the best signal to noise ratio.

The new update could be out as early as this coming Monday. Stay tuned for more development on this! [via AppleInsider]