According to iMore, Apple will unveil the new iPhone also also a new iPod Nano on September 12 and the products will be available for purchase from September 21.
The pause in iPhone sales ahead of a new version saw Apple's revenues slip from the previous quarter. The wait for a new iPhone caused Apple to miss quarterly expectations last fall. This year the phenomenon started early, which could mean that Apple's iPhone sales may also stall in the current quarter.
The Silicon Valley giant has a lot riding on its next iPhone, the product that yields more than half its revenue and helps shore up overall margins.
Apple has seen Samsung Electronics - now the world's largest seller of smartphones - and other handset manufacturers using Google's Android software chip away at its market share. As consumers wait for the new iPhone, Samsung's Galaxy is expected to keep chalking up robust numbers.
Fans are expecting Apple to launch a completely redesigned phone that has a bigger screen, rather than just add or change a few features as it did with the current model.
The idea of a smaller iPad model was publicly derided by Apple founder Steve Jobs a year before he died but rumours of a smaller iPad, or iPad mini have percolated ever since the first iPad was launched two years ago.
A smaller tablet would help Apple further its lead in the tablet market. Apple has successfully fended off competitors who have tried to sell tablets in iPad's size range. But the arrival of the 7-inch Amazon Kindle followed by Google's Nexus 7 has got people preferring smaller and cheaper tablets. Price isn't the only reason customers might prefer a smaller tablet. A 7-inch model would fit in many handbags, unlike the current iPad.
iPhone 4S was announced on October 4, 2011.
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