And when the phone is launched, it's going to be a really big freaking deal.
Munster says the next iPhone "will represent the biggest consumer electronics product launch of 2012 as well as the biggest device upgrade cycle in smartphone history."
Munster is estimating Apple sells 50 million iPhones in the last quarter of this year, which is a 32% year over year increase. If Apple can't meet all of the demand in the fourth quarter, then demand will just be pushed over to the next quarter, says Munster.
What's the big deal about the next iPhone?
It should be the first major physical redesign in two years. The screen is expected to grow by a half inch to 4-inches, up from 3.5-inches. It should support 4G LTE networks. It should have a better camera, and faster internals.
Further, a lot of people will be coming off their 2-year iPhone 4 contracts and looking for an upgraded phone.
Put it all together and you have the makings of monster event. Start getting excited.