After Apple Inc.'s Steve Jobs didn't unveil the iPhone 5 at a developers' conference in June, the release date of the new smartphone has been subject to speculations and rumors.

Early this month, we published an article suggesting that in addition to production issues, Apple may have delayed the release of the iPhone 5 in order to lobby time to build more features to the smartphone, given that the iPhone 4 is still selling very well. A slide-show titled "10 Reasons Why Apple Should Delay the iPhone 5 Until 2012" from Don Reisinger on eWeek shares our sentiments.

As to the release date, hundreds of articles, citing various sources, including "people familiar with the plans," or "sources inside Apple", or "a supplier who refuses to be identified," have been saying that Apple will start selling the iPhone 5 in September or October (depending which source you believe).

A report this week from 9to5mac.com, citing sources inside Apple, says that the Cupertino, Calif.-based company has been deciding between an Oct. 7 or Oct. 14 launch date but since pre-mass-production line is moving along nicely, Apple is leaning towards the earlier launch date of Oct. 7.

9to5mac says that the device will be available for pre-orders either on Thursday, Sept. 29 or on Friday, Sept. 30. A September preorder would also mean that Apple's yearly fall event would take place in early September.

The release date is backed by an earlier claim by All Things D's John Paczkowski, who said that the next-generation iPhone would be an October surprise. Like everyone else though, Paczkowski didn't identify the source and only cited "sources with knowledge of the situation."

The iPhone 5 is expected to debut together with the iOS5, the latest upgrade to Apple's operating system for its iPad and iPhone.
The new iPhone 5 will sport a dual core A5 processor, an eight megapixel camera and the latest upgrade to the iOS. Other exciting new features for the iPhone 5 are the voice based navigation system and panorama photography capabilities.

Even without the iPhone 5, Apple has had a record year (it surpassed Exxon Mobil Corp. as the world's most valuable company, albeit temporarily). It sold 20.3 million iPhones in the quarter ended June 25 and emerged as the top selling smartphone vendor in the quarter. With the additional help of the iPad 2 and Macs, Apple posted record revenue of $28.57 billion and record net profit of $7.31 billion, or $7.79 per diluted share.

eWeek's Reisinger says that if Apple wants to maximize profits, waiting until 2012 would be its best bet for the debut of the iPhone 5. UK blog KitGuru supports this speculation, saying that the iPhone 5 might not actually be released until March 2012.

On an economic sense, it would be more logical for Apple to release the iPhone 5 in September or October this year. If Apple waits for next year, it won't be able to join other vendors taking advantage of lucrative sales during the holiday season.

Surveys have said that most current iPhone users intend to upgrade to the iPhone 5. But would you want an iPhone 4 for Christmas when you already have one?

The iPhone 5 could take the helm as the fastest selling smartphone ever if it's released prior to or at the start of the holiday season (and continue record sales at the Christmas season, the time when most people forget that they are broke).

While the third quarter is smooth sailing for Apple, it is expected to face real competition in the fourth quarter of this year.

Samsung's Galaxy SII, the smartphone accused by Apple as "slavishly" imitating the iPhone, is expected to be released in the U.S. at the end of August. Samsung has sold one Galaxy phone in every 1.5 seconds and could overtake Apple as the number one vendor if it gains ground in the U.S. Apple though has sued Samsung for infringement, but Apple will unlikely fail in its request to stop Galaxy sales in the U.S.

In addition to Samsung, Nokia is expected to debut its first batch of Microsoft Windows-based phones before the year ends.
For now, we can fly to China to purchase the iPhone 5, although the $30 device is 100 percent fake (Thinking of the possibility that a rogue employee could have leaked the real iPhone 5 from an Apple plant in China? Not possible).

Sooner, rather than later, Apple will be releasing the iPhone 5.

Unless employees of Apple are instead prioritizing the design and development of Apple's newest headquarters called "Apple Campus 2" -- a 2.8 million-square-foot facility that looks like a giant spaceship and is covered in huge pieces of curved glass -- chances are we'll see the iPhone 5 in the fourth quarter of this year.

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