A Japanese source as mentioned by Macrumors is claiming that Apple will hold the long rumored Media event to address next generation of iPhone on 7 September. Though, the source told 8 September according to Japanese time which means 7 September as per US. Because Apple is already out of the usual schedule, so it may happen that along with the announcement of next generation iPod touch, the company could unveil iPhone 5. At WWDC where people expected the launch of a new product, the event turned out to be software centric.
Many sources have earlier said that Apple will release iPhone 4S/5 in September. However, AllThingsD sources denied the statement and told that Apple would hold an additional event in October to launch iPhone 5. Reportedly, Foxonn has already received orders for the manufacturing of next generation iPhone and majority of carriers across US are testing iPhone 5 prototype to avoid any leaks. In last few years, this Japanese source has been proved to be true in many cases.