The rumors appear to be true, iPhone 4 users will be left in the dust once the new iOS 8 update is released. This is nothing new for Apple, as keeping with tradition, they did the same thing with the iPhone 3GS which did not support the iOS 7 update.
The iOS press release states that these devices will be receiving the new update: iPhone 4s, iPhone 5, iPhone 5c, iPhone 5s, iPod touch 5th generation, iPad 2, iPad with Retina display, iPad Air, iPad mini and iPad mini with Retina display. iOS 8 is set to release in the fall of 2014 along with that release, are rumors of the new next generation iPhone. So start saving those pennies now iPhone 4 users.