Avion Securities via Business Insider:
Supporting out comments over the last month, conversations with yet another key component supplier indicates that production for iPhone-5 will begin in September. This is consistent with Avian findings in the supply chain in recent months and we believe the consensus view is moving towards this scenario. In addition, our conversations also indicate the existence of a lower-spec/lower-priced iPhone in Apple’s roadmap. However, while our contacts have seen the placeholder in the Apple roadmap, they do not yet have insight into specs or production timing. This leads us to believe that any launch is likely a very late 2011 or more likely a 2012 event. As a reminder, Avian has uncovered several data-points in recent months pointing to the existence of a lower-spec/lower-price iPhone. A lower-spec/lower-price iPhone has also been speculated in the press and gadget blogs, though we do not believe consensus currently discounts the existence of such a model.
This contradicts reports from etnews.co.kr just six days ago that the iPhone 5 is on target for a fourth week of June release. Just in terms of displays, Apple uses multiple suppliers. In the case of the Retina Display on the iPhone 4 there are at least two that I know of: LG Display and Samsung. Depending on projected demand for an iPhone 5 there might be second tier suppliers lined up that might need to begin mass production at a later date, September for instance.
And regarding this lower priced iPhone: wouldn’t the iPhone 4 naturally be placed in the lower priced position once the iPhone 5 comes out? Much like how Apple has been doing ever since the iPhone 3G came out and bumping the original iPhone down as lower spec’ed and lower priced? Most likely the iPhone 4 will come down in price to $99 once the iPhone 5 comes out. At that price point the iPhone 4 with the 3.5-inch IPS-based Retina Display will be unbeatable in value, based on the display specification alone.
I still think the iPhone 5 will be an iPhone 4S.