Jul 14, 2012 12:52 PM EDT
iPhone 5 Release Date: August 7, Says Reliable Source

This may be delightful news for all the iPhone fans out there. A “reliable industry source” told Know Your Mobile that Apple will announce the iPhone 5 on Aug 7.

The rumors and speculations about the next generation of iPhone had stirred the media even before the WWDC 2012 that was held in San Francisco last month. After Apple announced to release its next mobile operating system iOS 6 this fall, people expected the next generation of smartphone, commonly referred to as iPhone 5, to become available around the same time.

However, some suggested that Apple may be hurrying the launch of iPhone 5 in order to challenge its competitors, such as the Samsung Galaxy S3. The flagship phone from the South Korean-company was received with huge success in both European and U.S. markets, with wireless carriers having troubles meeting the high demand for the device. Samsung stated late last month that they plan to top 10 million units during July.

Apple released its iPhone 4S in October of 2011, but later rumors suggested the iPhone 5 to be revealed in September, or even in August.

In addition to the Samsung Galaxy S3, Apple may also have to face threat from Galaxy Note 2 and Amazon Kindle Phone this fall.

But could iPhone 5’s early launch help Apple to protect its throne in mobile industry and regain its trust from loyal fans?

Foxconn’s CEO Terry Guo said the next iPhone will put Samsung’s Galaxy S3 into “shame”.

Rumor has it that iPhone 5 will have a larger and elongated screen. The new screen will be 4.0 inches with 16:9 aspect ratio, compared to the current 3.5-inch screen with 3:2 ratio. iPhone 5 may also come with A6 quad-core processor and 4G LTE. It is also rumored to have replaceable camera lenses, based on the recent patent that Apple filed.

Apple’s new iOS 6 is also expected to power iPhone 5, with new Maps app with 3D viewing and turn-by-turn navigation function and upgraded Siri voice service.

In the mean time, Chinese e-commerce site has been taking preorders of iPhone 5, some asking as much as 6,999 yuan ($1,100).

Check back on Aug 7 to see whether Apple has something to unveil.

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