According to 9to5Mac’s sources, the next generation iPhone 5 is in the final stage of testing. A previously accurate Apple source has leaked further information on iPhone 5 release date and on the possibility of FaceTime over 3G. It states that Apple will launch iPhone 5 in September, most likely at the usual music-oriented event, when we may also see the release of a new iPod Touch 5th Generation.
“The next generation iPhone has reached the final testing stage (aka “AP” stage [Thanks, Chronic!]) and is now being carried around by high level Apple and carrier executives.
Although this has been assumed since the no-iPhone-at-WWDC-rumors broke, the current plan is for a September launch for the next-generation iPhone.”
It has also revealed that Apple and Verizon are still in negotiations to bring FaceTime over 3G. There was rumor that iPhone 5 will boost to 8 megapixels. But the iPhone 5 will have the same 5MP camera sensor because of production delay with Sony.
Source: 9to5Mac
You might want to check out all about iPhone 5 release date.
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I think that if the camera stays 5MP the iphone will fall way behind the newer HTC models with 8MP+ and the newer models nokia has to provide. Although people dont really care about the camera anymore (in comparison to other features), it is very important and 0 improvement when compared to iphone 4 is really fail.
4G and spec > 8MP with flash support is what iPhone user aspiring to see in the forthcoming September release iPhone