Apple’s iPhone 5 is expected to be released this fall during the annual event where the company for the past three years has unveiled the next gen iPods. A new report published by The China Times now specifically mentions iPhone 5 availability during the second week of September.

The report further mentions that Apple has asked its suppliers to be prepared with an initial order of 4 million units and are currently preparing for 400,000 trial run units. Apple would be looking at introducing a new iPhone in September as that would be closer to the holiday season which could give a tremendous boost in sales.

Earlier this year Apple introduced Verizon iPhone 4 and then the white model which would have forced the company to delay the introduction of iPhone 5. The next gen iPhone is expected to feature 8 MP camera, larger screen and dual-core A5 chip.

The report also notes that iPad 3 launch could be delayed due to component shortages. However, we don’t expect the Cupertino, Calif., based company to announce the third gen iPad before 2012. 

Are you considering upgrading to an iPhone 5 when it launches in September? Will you wait for iPhone 4G instead? Let us know what you think in the comments below.

{via MacRumors}