The much awaited Motorola Droid Bionic is expected to launch on or around July 4 - America's Independence Day - but can it set the Americans free from iPhone's oppressive rule?

According to rumors making rounds in the Internet, Motorola Droid Bionic will launch on America's Independence Day! The rumor has made smartphone fans excited but we're keeping our fingers crossed as Motorola hasn't confirmed the launch date yet.

Droid Bionic reportedly will feature a 4.5-inch qHD screen (540x960 pixels resolution), capacitive multitouch display, a powerful Tegra 2 dual-core 1 Ghz processor, the newest version of popular Android Gingerbread OS, 512MB RAM/2048M ROM, 3D graphics hardware accelerator, 8 megapixel camera with 1080p HD video capture capability, proximity sensor, light sensor, Motoblur 3D (which boasts of improved UI to compete with HTC Sense), improved lockscreen, front-facing camera for video chat, 32GB storage space (including built-in 14GB), Bluetooth, WiFi, Accelerometer, and will be supported by Verizon's super-fast 4G LTE network.

According to tech pundits, Droid Bionic will become one of the most powerful and technologically advanced smartphones when it hits the market and has the trapping of an iPhone killer.

Despite iPhone doing very well in terms of sales over the past 2-3 years, smartphone users and application (app) developers have become exasperated with Apple's restrictive business model and high-handedness. And yet, year after, people continue to throng Apple stores whenever a new iPhone hits the market, almost as if they are under the iPhone's hypnotic spell.

But this time things may be different. With Bionic set for an earlier release than iPhone (iPhone 5 is expected to release in September if not later), if the Motorola device does well, Motorola will be able to wean away Apple customers from the iPhone and increase the LTE population.

Meanwhile, though Apple is tight-lipped about the specs of iPhone 5, it will reportedly be a smartphone on steroids compared to iPhone 4 as it is expected to come with 8 megapixel camera with LED flash, panaromic photo capabilities, multicore A5 processor, a 4-inch edge-to-edge display, 1080p HD video output, curved glass screen, a SIM-less design, 3-4 internal antennas for both GSM and CDMA networks, iOS 5, NFC technology, 1GB RAM, speech recognition capabilities, and 4G connectivity.

Will Droid Bionic end the rule of iPhone, which has been the gold standard in the smartphone industry since its first launch? Or will Bionic turn out to be another let-down? Leave your comments below.