Acording to sources in the Chinese supply chain told Macotakara.jp who revealed today that Apple has yet to order components for the iPhone 5 and that the device is not expected to contribute to Apple's 2011 fiscal year which ends on September 24th. If accurate, this means that the iPhone 5 wouldn't launch until late September or October at the earliest.
The report notes that the iPhone 5 will launch in the first half of Fiscal 2012 but a late Fall launch is more likely given that Apple would want to have a new product on the market in time for the busy holiday shopping season.
Interestingly enough, it was reported this past weekend that Apple plans to release iOS 5 later this Fall. At first glance the news seemed odd since Apple typically releases new iPhone hardware alongside new iOS updates. With news that an iPhone 5 launch may be pushed back until October or November, reports of iOS 5 launching in the Fall now make a lot more sense.
So one plausible theory might be that with OS X Lion next on the docket, Apple isn’t capable of finishing up work on iOS 5 in time for a Summer iPhone launch. And rather than release new iPhone hardware without a new OS update, the powers that be at Apple made the executive decision to push back both the iOS update and iPhone 5 release until later this Fall.