In a nightmare news for all gadget lovers, the Verizon iPhone 4 has antenna problems. But fortunately, it’s probably not as bad a situation, since it’s nothing compared to the issues with the AT&T version, which caused the “Antennagate” fiasco that had the tech community up-in-arms this past summer.

While studying the standard hardware testing, the people at iLounge discovered that in spite of the changes made to the hardware and slight design adjustments, the Verizon iPhone loses signal strength when held in a certain way. The phone is set to hit markets tomorrow.

“The CDMA iPhone 4 can still lose substantial cellular signal strength when held in the prior ‘death grip’ position,” says Charles Starrett at iLounge, “as well as Wi-Fi signal when held in a different position, in each case noticeably slowing or completely stalling the reception of data.”

Starrett’s tests reveal that the Wi-Fi signal falls when the phone is held with two hands in landscape orientation. Specifically, according to Speedtest results the phone’s 1.1 Mbps download speed drops to a mere 0.1 Mbps when held in the “death hug.”

But there is of course abundant doubt if it’s big enough to kick off another Antennagate. Firstly it’s hard for a scandal based on the same kind of damning evidence to bubble up twice, as everyone already knows that the antenna of iPhone4 could, potentially, cause users problems. Hence even if Apple claims to have fixed the antenna issue in the Verizon version, nobody is going to be surprised if it still has some issues.

Secondly, sales figures show that people really just want an iPhone, no matter what. So in the most probable scenario, the small fiasco won’t have any effect, whatsoever.