How to Unlock iPhone 4 Baseband 4.11.08 and 4.12.01 for Free via ICCID Exploit

Who would have thought the day would come! The unlock for iPhone 4 baseband 4.11.08 and 4.12.01 is finally here! Best of all it's free!
This hack was discovered by Chinese hacker loktar_sun who published his method on popular Chinese forum weiphone.com. In this country of 1.3 billion people, I'm pretty sure that this would happen sooner or later.

Pre-requisites:

Jailbroken iPhone 4 running on iOS 5.0.1 (preferably)
Non blacklisted iPhone
You should know which carrier your iPhone is locked to. Use iTools or go to www.imei.info.
Latest version of iTunes
SAM (Subscriber Artificial Module) installed
Steps

1. Launch Cydia and add the following source, download and install SAM

repo.bingner.com

2. Once installed, you will see SAMPrefs icon on your iPhone's home screen.

3. Go to utilities and select "De-Activate iPhone". This will change the ActivationState under "More Information" to "Unactivated".

4. Now that SAM is enabled, go to "Method" and select "By Country and Carrier"; find your carrier (the carrier locked to the iPhone), it should also be noted that some carriers operate under more than one Carrier ID in that case you may need to select "SIM ID"; be sure to choose the right one. If you chose the wrong one, iTunes will not activate your iPhone.

5. Go back to More Information option and jot down the IMSI in "SAM Details", then tap "Spoof Real SIM to SAM"

6. Go back to the main SAM screen and change "Method" to manual, go to "More Information" and then enter the IMSI number which you wrote down or copied in previous step into SAM Details .

7. Check and match the ICCID in iTunes by connecting your iPhone to computer and let iTunes activate your device. Double tap on "Phone Number" field in your iPhone's Summary (in iTunes). It should match with your SIM card's ICCID. Otherwise, start from step 4.

8. Unplug your iPhone and close iTunes.

9. Disable SAM.

10. Connect your iPhone to iTunes again, you should get an error saying that your phone cannot be activated. This is normal. Just close iTunes and open it again.

Your iPhone should be unlocked now.

Fix Push notifications by tapping "clear push" utility in SAM followed by connecting to iTunes.

Save your unlock ticket for future use by saving everything located in:

/var/root/Library/Lockdown/ (or follow this guide using redsn0w)

Now, this technique is very similar to the one used to unlock iPhone 4S. Guess what? Applenberry is using the same exploit and has started selling their unlock on their website.

There's a chance that this would work on older basebands as well; including 3GS' baseband 5.14.02 to 5.16.05! So do try!

Since this does not involve emergency numbers or IMSI spoofing it will not have any of the issues associated with SIM interposers. Tested working on iOS 5.0.1 but should work with tethered 5.1 too.