Pictured above: Third=party iPhone 4 metallic back sticker

Research firm Avian Securities issued a note to clients today that will dash hopes of those that have been keeping their fingers crossed for the iPhone 5 this summer. According to the note based on checks with a key supplier , their analysts believe that the handset will go into production in September, which means it won’t land on store shelves before the end of this year, possibly even Q1 2012, reports Business Insider. Here’s what the note reads:

What do you guts think? Can Apple really be so confident in iPhone 4 to push back the iPhone 5 to early 2012. This would give anyone in the cutthroat cellphone business, especially the Android camp, ample time to run circles around the iPhone 4. Worse, such a highly unlikely scenario (in my personal opinion) means Apple would be missing on the all-important holiday shopping season because I doubt lots of people would buy last year’s phone – unless Apple slashes the price substantially. On the other hand, a Q1 2012 release makes sense if Apple wants the next iPhone to be a 4G LTE world phone.

This would give them an opportunity to use the updated Gobi chipset that combines more functions and consumes less power while giving carriers more time to deploy their LTE networks ahead of the iPhone 5’s release.

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  • iPhone 5 late too? (September) (9to5mac.com)
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