The next generation of the iPhone is coming, but not until September, sources tell Reuters. News recently surfaced that Apple probably won’t announce its newest phone in June as it normally does; now it looks like production of the new iPhone will begin in July or August and the device will start shipping in September. It is expected to look similar to the iPhone 4, but include a faster processor.
Mashable notes that other rumored upgrades to the iPhone 5 include a better camera and bigger screen.
Some rumours on specs here.