eWeek reports: "In the mobile world, there’s no more important smartphone than the iPhone. Apple’s handset is wildly popular in every country in which it’s available. And each year, when new versions of the device are launched, people around the globe line up to be the first to get their hands on it. But so far this year, those people haven’t been able to get hands on a new iPhone model. Now, there is rampant speculation that Apple might wait a couple more months to finally offer up the next version of its smartphone. Whenever Apple finally gets around to launching a new smartphone, consumers will be quite interested to know what the device will come with. Will the next iPhone be a major upgrade over the iPhone 4, or will it simply be an evolutionary update?" (Read the rest of the article.)
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This article is the best speculation I have seen on the iPhone 5.