The iPhone 5 will have a faster processor than its predecessor though its outward appearance will remain much the same, it has been claimed.
Reuters reports that sources "familiar with the matter" confirmed that production would begin in July with the iPhone 5 likely to hit international markets in September.
The news will come as a disappointment to those who expected the iPhone 5 to launch at the WorldWide Developer Conference in June.
However, the report gives a slightly more optimistic outlook than that of Avian Securities, which last week claimed that the iPhone 5 might not launch until 2012.
According to Apple Insider, the report largely confirms what analyst Ming-Chi Kuo with Concord Securities said about the launch timing. Kuo also said that the iPhone 5 would have an 8MP camera and an improved antenna design.
Apple hasn't confirmed a precise date but did say that the white iPhone 4 would launch at some time in the spring.