The successor to the iPhone 4S should pop up by October.
Another analyst is eyeing a September or October debut for the next iPhone.
Picking up on the same launch time frame as the iPhone 4S, the iPhone 5 would likely be here before or by October, according to RBC analyst Amit Daryanani. Releasing an investor report today, Daryanani added that the new iPhone should come with the latest 4G/LTE technology and offer a redesign over last year's model.
"Since the launch of the original iPhone, Apple has updated the product annually (eg. iPhone 3GS and iPhone 4S) and has redesigned the phone every ~2 years (eg. iPhone 3G and iPhone 4)," the analyst wrote. "In our view, consumers are becoming aware of the product cycle and we believe this should cause increased seasonality in the product as consumers await updated and fully remade iPhones."
The next iPhone will likely continue the tradition of scoring huge sales for Apple. Since the original version was released in 2007, the iPhone has grown to account for more than 40 percent of Apple's total revenue, according to Daryanani. Gross margins on the iPhone are the highest among all of the company's product categories, also ringing in at more than 40 percent.