Despite widespread speculation that Apple’s iPhone 5 is facing delay, there is still hope that the most anticipated smart phone could make a June/July debut, according to some industry watchers. Recent rumors suggest we’re more likely to see a fall release than in summer but Steve Jobs and his crew could actually surprise us this month or the next. Here’s why:

1. Evolutionary rather than revolutionary changes seen
Apple, which is much more on software this year, is expected to release a product with an incremental update. iPhone watchers believe the next device will be an upgraded iPhone 4, most notably with a faster processor and some updated specs, instead of a major advancement. If this is the case, a roll-out of the more advanced product shortly after the White iPhone 4 would make a lot more sense than to delay its launch by three months.

2. iPhone 5 to come only in black
Speculations say the late release of the white version of iPhone 4 affected the release of its successor and because the white version is still selling pretty well, Apple might stretch its trend up until the following year. Countering this speculation, some industry watchers suggest Apple will launch the new iPhone only in black for a short period of time. This means the White iPhone 4, having a sense of exclusivity, can continue enjoying sales and would therefore not hinder an iPhone5 release.

3. Apple to announce iPhone 5 at a separate event
Steve Job’s silence on the iPhone 5 at the WWDC conference this week strengthened speculations that there won’t be any release this summer. However, news have also surfaced that Apple will hold a second event in June, separate from WWDC, to announce iPhone 5. This would then pave the way for a release in the fourth week of June.

Will Jobs surprise us all this June and unveil the next generation iPhone? We have several more days to wait and see.