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Yes, I believe what you have heard is true. Ipod touch is like the iphone without the phone.

and I think also 1) Camera and 2) GPS (not sure)

No, it neither iPhone nore iTouch has a camera. Thats for sure.

I assure you, that the iPhone DOES in fact have a camera!

Yes True. iPhone has a camera.

iPhone = It has camera, It has gps

ipod touch = no camera(very sure), gps (I think it does noot have it)