
The iPhone 5 is rumored to be released on the September or October release schedule this 2012. This would be similar to what occurred with the iPhone 4S. This comes from the Japanese news site Macotakara:
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According to Asian reliable source, the next iPhone will be released in September or October, and this cycle seems to be kept for years.
The iPhone 4S was the first phone to follow such a release cycle. Previous generations of the devices would follow a summer cycle, with the devices releasing during the month of June or July. However, when the iPhone 4S moved to the fall release cycle, it resulted in record breaking sales for the iPhone and an excellent quarter for Apple. Maybe that is what is making Apple stick to such a release cycle?
via iMore

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