Yes it does, but at a cost that most of us will not be able to pay: $20,000. But what you get at this price is pure luxury – White diamond wrapped around iPhone 4 32GB edition and it’s unlocked. This is yet another luxurious creation from the luxury phone designer Staurt Hughes who is famous for his previous release of iPhone 3Gs Gold edition.

So what will you get with the package? Not just a completely White diamond – 6.5 carat – wrapped around the iPhone 4 case but it will also solve the iPhone 4 reception issue. Here’s how it looks like:

But if you do not have a grand sum of twenty thousand bucks then there are always some cheap alternatives like putting up a cheap rubber case for iPhone 4. That has also been tested for fixing the reception problems. These iPhone 4 cases from Vapor costs only $20 –1000X  cheaper solution then purchasing a diamond case. here’s how it looks like:

And there’s also another solution: Getting an iHand – the ultimate solution for iPhone 4 antenna/reception problem. This eliminates the need for holding the iPhone in one specific way. Here’s how it looks like:

But even if you are not ready to spend $20 to get an uninterrupted reception then this is what Steve Jobs recommends for solving the reception issue and also get full signal bars:

And finally this is the leaked document that is apparently an internal circulation of Apple explaining workaround the iPhone 4 antenna issue and how to fix it:

1. Keep all of the positioning statements in the BN handy – your tone when delivering this information is important.

a. The iPhone 4’s wireless performance is the best we have ever shipped. Our testing shows that iPhone 4’s overall antenna performance is better than iPhone 3GS.

b. Gripping almost any mobile phone in certain places will reduce its reception. This is true of the iPhone 4, the iPhone 3GS, and many other phones we have tested. It is a fact of life in the wireless world.

c. If you are experiencing this on your iPhone 3GS, avoid covering the bottom-right side with your hand.

d. If you are experiencing this on your iPhone 4, avoid covering the black strip in the lower-left corner of the metal band.

e. The use of a case or Bumper that is made out of rubber or plastic may improve wireless performance by keeping your hand from directly covering these areas.

2. Do not perform warranty service. Use the positioning above for any customer questions or concerns.

3. Don’t forget YOU STILL NEED to probe and troubleshoot. If a customer calls about their reception while the phone is sitting on a table (not being held) it is not the metal band.

4. ONLY escalate if the issue exists when the phone is not held AND you cannot resolve it.

5. We ARE NOT appeasing customers with free bumpers – DON’T promise a free bumper to customers.

Do you think that the antenna problem with iPhone 4 is bloated or it’s a real issue?

(pic via Gizmodo, leaked document via BGR)