The iPhone 5 - assuming that it's the name of the next iPhone - probably won't release during August, but it could release in September. A French article on a same-language website, called App4Phone (Google Translated version here), cited sources claiming the September 21 release date.
The website talked to a Chinese source, revealing the September 21 announcement. The source, from a company manufacturing iPhone accessories, apparently, also reiterated speculations that the next iPhone will use a 19-pin connector - making all current iPhone accessories obsolete. Apple has used a 30-pin connector for iPhones, iPads, and iPods since the introduction of the third-generation iPod.
The source also shared non-display information suggesting that the headphone jack will be moved from the upper left to the lower left of the iPhone. The iPhone 5 will measure 123.9 millimetres long, and will have a 3.75-inch display, not the 4-inch display as has been rumored. iPhones, to date, have used the 3.5-inch display, while Android devices like the Samsung Galaxy Nexus and the Galaxy S3 use 4.8-inch displays. The offset to a bigger display means a lower resolution, so Apple made be looking to mostly preserve the 960x640 resolution found on the iPhone 4 and 4S.
Gene Munster, a Piper Jaffray analyst, conducted a survey of 400 people asking if the 3.5-inch iPhone or the 4.8 inch Galaxy S3 is preferable. The majority answered the iPhone, so a 3.85-inch screen - a compromise between the current and 4-inch form factors - seems sensible.
It will also mean that current apps won't have to be significantly reworked for a jump in .5 inches. Even non-optimized apps will scale well, a problem Google has been dogged with owing to large differences between the 4-inch Galaxy Nexus and the 7-inch Google Nexus 7 tablet.
Previous rumors suggest that the source is wrong, at least when it comes to the screen size. Side-by-side comparisons between a current iPhone model and the new iPhone's model revealed a 4-inch screen.
Apple had announced the iPhone 4S October 4, 2011. The company typically releases its new iPhones around the summer - the iPhone 4S is the exception -, so September 21 is a distinct possibility.
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