Business Insider has reported that the next iteration of Apple's ubiquitous iPhone won't go into production until September 2011, meaning it may not be here until early 2012. That could ruin Christmas for a lot of people.
Research firm Avian Securities issued a note to clients: "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 leads us to believe that any launch is likely a very late 2011 or more likely a 2012 event."
If Apple were to hit a 'late 2011' date the launch could coincide with that of Sony's successor to PSP. That's unlikely to make Sony execs jump for joy after seeing the same day launch of iPad 2 and 3DS, which some feel rained on Nintendo's parade.
Avian's note also mentions the possibility that iPhone 5 may be of a lower spec and a lower price than previous iterations, though that's unconfirmed at this stage.