The speculation is growing louder about the possible release of a new iPhone 5 this summer. Today, Jeffries analyst Peter Misek said in a report that his supply chain checks anticipate a launch in June/July with a March production start date. The report backs up an earlier claim from Topeka analyst Brian White, who said at the start of January that an iPhone 5S will begin production in March or April for a May/June launch.
These reports are still just analyst predictions, based on research culled from supply chain sources not sourced from Apple directly, but the fact that they agree so closely on the anticipated timeframe for launch is an indicator that there could be more here than just idle speculation.
The yearly update cycle may no longer be an adequate way to operate in today's highly competitive smartphone market, given the increase in competition from Samsung and its much more varied product line. A mid-season update makes a lot of sense. We'll wait and see.