For Apple, June is typically the month that they unveil their latest smartphone. But if rumors hold true, the month may pass without any new hardware. New reports are suggesting that the iPhone 5 will go into production in September with a launch following closely afterwards.
Appleinsider is quoting Analyst Ming-Chi Kuo with Concord Securities that the iPhone 5 will only have slight modifications when compared to the iPhone 4, will feature an A5 processor, an 8MP camera, and Apple will switch to a Qualcomm baseband for all models (CDMA/GSM). The iPhone 5 will also have an updated antenna design.
The updates seem modest at best but are also a safe bets for any analyst. The Apple A5 is almost guaranteed as it is Apple's latest generation CPU, currently found in the iPad 2. The 8MP camera also seems plausible as it is simply a bump in spec compared to the previous generation iPhone, and by switching to a Qualcomm baseband, Apple will only have to produce one variant of the iPhone (along with separate models based on storage size).
If the rumors hold up, we should see the iPhone 5 sometime this Fall (rumors suggest September), with a high probability that it will land before Black Friday to help Apple move the older iPhone 4 off shelves at a considerable discount.