Sources reveal iPhone 5 debut date

Apple’s iPhone 5 will touch down on September 21, sporting a new design in an overall refresh of the market-leading smartphone.

The new iPhone will have a larger screen and thinner body than its predecessor. It is expected to be compatible with US LTE 700MHz networks.

It is unclear whether the smartphone will work with Australia’s LTE networks, currently provided by Optus and Telstra.

The iPhone will be revealed on September 21, Bloomberg reported, in line with industry expectations.

Apple’s iPhone 4 was the last generation smartphone to undergo a design change, visually thinner and more square than its 3GS predecessor.

Apple’s new iPhone is expected to introduce a 16:9-format widescreen retina display along with a smaller, redesigned dock connector, losing its traditional 30-pin port to make way for a newly-positioned headphone socket sitting alongside the port on the phone's underside. 

Apple is also expected to shave millimetres off the thickness of its next-generation iPhone thanks to in-cell touch panel technology.

The panels, built by Sharp, Display Inc and LG, will slim down the device's screen by integrating touch sensors into the LCD, making the separate touch-screen layer redundant, reported The Wall Street Journal.

Apple's iPhone 4S sits at 9.3mm thick. Analysts predict the next-generation device will be 7.9mm thick - about the same size as Apple's iPod Touch.

The next-generation smartphone has for months been widely reported to drop in September but the notoriously tight-lipped Apple is yet to comment on its plans. 

However, European mobile carriers are reported to be stockpiling the Apple-designed nano-SIM card in anticipation of the iPhone 5's launch. The 4FF nano-SIM is 40 percent smaller than the current micro-SIM.

Q1 results hint at new device

Apple reported net income of $US8.8 billion ($A8.4 billion) for its third quarter of 2012, as sales of its iPhone and iPad devices skyrocketed.

Hidden in its financial report was a $US1.15 billion increase in prepayments for components, a sign the company is gearing up to launch the new smartphone in the next quarter. 

For the three-month period ending June 30 this year, Apple sold 26 million iPhones, up 28 percent on the previous corresponding period, and 17 million iPads, and 84 percent increase on Q3 2011. 

While Apple’s net income was up $US1.5 billion on the year-ago quarter, the results fell short of analyst estimates.

Apple reported revenue of $US35 billion, lower than the expected $US37.2 billion, reports Marketwatch.