iPhone 4 Antenna Reception fix
There is two solutions for iPhone 4 reception problem ( apart from buying a case ):
First solution is adding a small piece of tape over the bottom left of your iPhone, where there is a small gap. For more info watch below video
the second solution, it turned out the micro SIM touches the sim tray and when you hold your phone it confuses Baseband.

Points 1 and 2 are microSIM contacts, only for that purpose; point 3 is the microSIM tray itself – and if there’s some grounding or shorting going on between 1 and 3, or 2 and 3, or heaven forbid 1, 2, and 3 all at the same time or even sporadically, then again, “Houston, we have a problem.”
While gripping the phone tighter decreases the resistance and increases the capacitance effect on signal attenuation (wicks away more energy off the antenna bands), it could have the secondary effect as I’ve already noted of causing that gap between
points 1 and 2 and the microSIM tray itself, 3.
How to fix it:
- Take the micro SIM out

- use some sort of tape to avoid micro sim touching the edge of your sim tray

- put your sim inside again

a dude who knows about RF explained here
iPhone 4 Antenna Reception fix
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