As i already mentioned jailbreak and unlock of the IOS 4.3.1 is missing so till the newer or latest unlockers and Jailbreak comes out, you can still unlock and Jailbreak your device while downgrading it on IOS 4.3, 4.2.1 or any other previous older firmware. This is already mentioned how it will work. And Tinyumbrella is the tool to which will help you to completre the downgrade prociess of IOS 4.3.1 Read more..
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